1099 R Information
Why did I receive a Form 1099-R?
PERF is required by federal law to provide a Form 1099-R to anyone who received money from the Fund in 2007. This information is also provided to the Internal Revenue Service (IRS).
What should I do with the form?
You should use your Form 1099-R when completing your tax returns. If an accountant or other professional prepares your returns, you should provide this form or a copy of this form to your tax preparer. The Internal Revenue Service (IRS) provides instructions for completing tax returns, and also offers information online at www.irs.gov. You may wish to contact your tax advisor regarding questions related to completing your tax return.
Why did I receive more than one Form 1099-R from PERF?
If you received distributions in 2007 of more than one benefit type, then you will receive a Form 1099-R for each benefit type. The benefit type description is displayed in Box 7 of the Form 1099-R. This description will assist you in associating the amount reflected on each form with its proper benefit type.
What is included in Box 5 Employee Contributions (Non-taxable)?
Box 5 represents the non-taxable portion of your 2007 distributions.
Why are there blank boxes on my Form 1099-R?
The Form 1099-R was designed by the IRS to apply to many different types of organizations and types of payments. As a result, there are several boxes that do not specifically apply to members of PERF – those boxes are left blank.
How do I get a duplicate copy of my Form 1099-R?
If you are a registered user of PERF Online, you can view or print your 1099-R by logging in at www.perf.in.gov. You can request a duplicate copy of your Form 1099, by sending an e-mail request to questions@perf.in.gov or calling PERF toll-free at (888) 526-1687.
What should I do if I have not received my 2007 Form 1099-R in the mail?
The 2007 Form 1099-Rs will be postmarked by January 31, 2008. Please allow for normal delivery time. If you have not received your Form 1099-R by February 10, 2008, contact PERF via e-mail at questions@perf.in.gov or toll-free at 888-526-1687.
Which payments are included on the 2007 Form 1099-R?
The 2007 Form 1099-R reflects all amounts paid during the 2007 tax year, regardless of the month in which the amounts were earned. The 2007 Form 1099-R includes payments with issue dates from January 1, 2007, through December 31, 2007.
How do I correct my address on my 2007 Form 1099-R?
An incorrect address does not affect the validity of your Form 1099-R. However, you should notify PERF of your correct address to ensure prompt delivery of benefit payments and/or correspondence. You may do this online at http://www.in.gov/perf/ or contact us toll-free at 888-526-1687.
I believe that my PERF-issued 1099-R is incorrect. What should I do?
For any questions regarding your Form 1099, you may send an e-mail to questions@perf.in.gov or call PERF toll-free at (888) 526-1687.
What is the difference between Distribution Code 1 and Distribution Code 2?
- Distribution Code 1 - Early distribution, no known exception. A lump sum payment, not rolled into a qualified plan, and made before the age of 55.
- Distribution Code 2 - Early distribution, exception applies. A series of monthly annuity payments that are substantially equal (at least annually) over the life or life expectancy of the member made between the ages of 55 and 59 1/2. Or, a lump sum payment, not rolled into a qualified plan, and made between the ages of 55 and 59 1/2.
