1099-R FAQ

Q: What is a 1099-R?

A: IRS Form 1099-R is an annual statement of disbursements and applicable taxes withheld by a retirement plan. Each year, the Teachers' Retirement System of Oklahoma (TRS) sends a 1099-R to all retired members who received benefits in the previous calendar year.  Any active members who took a distribution of their employee contributions after they left employment with a participating employer will receive a 1099-R, as well as beneficiaries of active or retired members if they received some form of survivor benefit. 

Q: When are 1099-R forms mailed? (OR) When will I receive my 1099-R?

A: Forms will be mailed no later than January 31st of the current year. Please allow for normal delivery time. If you have not received your Form 1099-R by February 15th, please see “How do I get a duplicate copy of my 1099-R?” below.  

Q: Are 1099-Rs available in the MyTRS member portal?

A: Yes. Form 1099-Rs will be accessible in MyTRS no later than February 1st. If you have not registered for access to MyTRS, please complete registration at this link.

Q: Why is the taxable amount (Box 2a) less than the gross distribution (Box 1)?

A: There were after-tax dollars in the retirement account.  This occurs if after-tax retirement contributions were made while employed or after-tax money was used as payment for a service purchase, redeposit or other billing, etc.  This reduces the taxable portion of the total amount, thus accounting for the difference in the two amounts.

Q: Where do I find the amount withheld for federal and state taxes?

A: The amount of federal income tax withheld is located in Box 4, and the state tax withheld is found in Box 14.

Q: Why was there little or no taxes withheld?

A: The amounts of federal and state income taxes withheld are based on the instructions you provided to TRS. If you instructed TRS to use the IRS and Oklahoma tax withholding tables to calculate your withholdings, and your benefit is less than the minimum amount required to have taxes withheld (based on filing status, exemptions and subtractions), then little or no taxes were withheld during the year.

*** TRS does not provide tax advice regarding the amounts to be withheld ***

Your withholding elections can be changed at any time in MyTRS or by mailing IRS Form W-4P and Form OK-W-4-P.

Forms can be returned by mail to:

Teachers' Retirement System of Oklahoma    

P.O. Box 53524                        

Oklahoma City, OK 73152-3524

Q: Why does the amount in Box 1 (Gross distribution) not match the total deposited into my account?

A: The amount deposited into your account is a net amount after subtracting things withheld from your benefit payments like taxes, insurance, levies, garnishments, member dues, etc.

Q: What do the different boxes on the 1099-R represent?

Q: What is the State ID number for TRS?

A: Please see Box 15 on Form-1099R. The “PAYER” on the 1099 form is the Teachers’ Retirement System of Oklahoma (TRS) since TRS “pays” the benefit to the “recipient”. A PAYER must have a federal ID number on the 1099. Some people refer to it as a “State ID Number” but this federal ID number is only used for federal tax purposes and other limited purposes. So the “State ID number” for 1099 purposes is really the TRS Federal ID Number. The TRS Federal ID Number is 73-6028563.

Q: Why did I receive multiple 1099-Rs from TRS?

A: Please do not discard any tax form you receive as you may have received a payment, other than a normal retirement, that required a different distribution code.  Some of the reasons why you may have been issued two or more 1099-R forms are:

• You may have reached the age of 59½* at some point during the year.  *One 1099-R you receive will have Code 2 (early distribution, with exceptions) in box 7 for the portion of the year’s benefits prior to turning 59½ and another 1099-R will have Code 7 (normal distribution) in box 7 for the portion of the year after turning 59½.
• You may have received a distribution as a beneficiary
• You may have taken a distribution from your own account

You should be able to determine from the amounts, or by the distribution code listed in box 7, which 1099-R is for which distribution.  If you still have questions, contact TRS.

Q: How do I determine how much was withheld from my retirement for medical insurance premiums?

A: If you had medical insurance premiums withheld from your TRS benefits, that amount will be clearly marked in the “Insurance Premiums” box on your 1099.

Q: How do I get a duplicate copy of my 1099-R? (OR) How do I get a copy of my 1099-R if I did not receive it?

A: Duplicate Forms 1099-R are available in MyTRS.

In addition, you may request a duplicate Form 1099-R in writing, via fax or United States Postal Service. Your current mailing address must match our records before a 1099-R will be mailed to you. All requests must include your name, Social Security number, tax year requested, mailing address, daytime telephone number, and signature. Please allow 10-15 business days to receive your 1099-R.

Fax:      (405) 522-2521

Mail:     Teachers' Retirement System of Oklahoma

P.O. Box 53524

Oklahoma City, OK 73152-3524

Has your address changed? Addresses may be updated in MyTRS or

you may complete and submit an updated Personal Data Form.  

Sample 1099-R

The IRS’ 1099-R website may be referenced as well:

http://www.irs.gov/pub/irs-pdf/f1099r.pdf

Box 1: Shows the total amount you received this year.

Box 2a: This part of the distribution is generally taxable.

Box 4: Shows federal income tax withheld.

Box 5: Generally, this shows the employee’s investment in the contract (after-tax contributions).

(Employee’s after tax contributions – made while you were employed. i.e. (if you made after-tax retirement contributions, used after-tax money as payment for a service purchase, redeposit or other billing, etc.)

Box 7. The following codes identify the distribution you received*:

1 — Early distribution, no known exception (in most cases a withdrawal, under age 59½).

2 — Early distribution, exception applies (under age 59½).

3 — Disability.

4 — Death.

4G — Death, Direct Rollover

7 — Normal distribution.

G — Direct Rollover

*For more details on distribution codes, please refer to the back side of your 1099-R form copy.

Box 14: State Income Tax Withheld

Insurance Premiums: Insurance premiums withheld from retirement benefit checks for the calendar year.