IRS Form 1098-Q "Qualifying Longevity Annuity Contract Information"

What Is IRS Form 1098-Q?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2019. Check the official IRS-issued instructions before completing and submitting the form.

Form Details:

  • A 5-page form available for download in PDF;
  • Actual and valid for filing 2020 taxes;
  • Additional instructions and information can be found on page 3 of the document;
  • Editable, printable, and free;

Download a fillable version of IRS Form 1098-Q through the link below or browse more documents in our library of IRS Forms.

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Download IRS Form 1098-Q "Qualifying Longevity Annuity Contract Information"

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7474
VOID
CORRECTED
ISSUER’S name, street address, city or town, state or province, country, ZIP
ISSUER’S TIN
OMB No. 1545-2234
or foreign postal code, and telephone no.
Qualifying
1098-Q
PARTICIPANT’S TIN
Longevity Annuity
Form
Contract
(Rev. December 2019)
Information
1a Annuity amount on start date
For calendar year
20
$
2 Check if start date may be
1b Annuity start date
Copy A
accelerated
For
Internal Revenue
3 Total premiums
4 FMV of QLAC
Service Center
$
$
File with Form 1096.
PARTICIPANT’S name
5a January
dd
5b February
dd
$
$
For Privacy Act
5c March
dd
5d April
dd
and Paperwork
$
$
Street address (including apt. no.)
Reduction Act
5e May
dd
5f June
dd
Notice, see the
current General
$
$
Instructions for
5g July
dd
5h August
dd
Certain Information
$
$
City or town, state or province, country, and ZIP or foreign postal code
Returns.
5i September
dd
5j October
dd
$
$
Account number (see instructions)
Plan number
5k November
dd
5l December
dd
$
$
Name of plan
Plan sponsor’s EIN
1098-Q
Form
(Rev. 12-2019)
Cat. No. 67073Z
www.irs.gov/Form1098Q
Department of the Treasury - Internal Revenue Service
Do Not Cut or Separate Forms on This Page
Do Not Cut or Separate Forms on This Page
7474
VOID
CORRECTED
ISSUER’S name, street address, city or town, state or province, country, ZIP
ISSUER’S TIN
OMB No. 1545-2234
or foreign postal code, and telephone no.
Qualifying
1098-Q
PARTICIPANT’S TIN
Longevity Annuity
Form
Contract
(Rev. December 2019)
Information
1a Annuity amount on start date
For calendar year
20
$
2 Check if start date may be
1b Annuity start date
Copy A
accelerated
For
Internal Revenue
3 Total premiums
4 FMV of QLAC
Service Center
$
$
File with Form 1096.
PARTICIPANT’S name
5a January
dd
5b February
dd
$
$
For Privacy Act
5c March
dd
5d April
dd
and Paperwork
$
$
Street address (including apt. no.)
Reduction Act
5e May
dd
5f June
dd
Notice, see the
current General
$
$
Instructions for
5g July
dd
5h August
dd
Certain Information
$
$
City or town, state or province, country, and ZIP or foreign postal code
Returns.
5i September
dd
5j October
dd
$
$
Account number (see instructions)
Plan number
5k November
dd
5l December
dd
$
$
Name of plan
Plan sponsor’s EIN
1098-Q
Form
(Rev. 12-2019)
Cat. No. 67073Z
www.irs.gov/Form1098Q
Department of the Treasury - Internal Revenue Service
Do Not Cut or Separate Forms on This Page
Do Not Cut or Separate Forms on This Page
CORRECTED (if checked)
ISSUER’S name, street address, city or town, state or province, country, ZIP
ISSUER’S TIN
OMB No. 1545-2234
or foreign postal code, and telephone no.
Qualifying
1098-Q
PARTICIPANT’S TIN
Longevity Annuity
Form
Contract
(Rev. December 2019)
Information
1a Annuity amount on start date
For calendar year
20
$
2 If checked, start date may
1b Annuity start date
Copy B
be accelerated
For Participant
3 Total premiums
4 FMV of QLAC
$
$
PARTICIPANT’S name
5a January
dd
5b February
dd
This information is
$
$
being furnished
to the IRS.
5c March
dd
5d April
dd
$
$
Street address (including apt. no.)
5e May
dd
5f June
dd
$
$
5g July
dd
5h August
dd
$
$
City or town, state or province, country, and ZIP or foreign postal code
5i September
dd
5j October
dd
$
$
Account number (see instructions)
Plan number
5k November
dd
5l December
dd
$
$
Name of plan
Plan sponsor’s EIN
1098-Q
Form
(Rev. 12-2019)
(Keep for your records)
www.irs.gov/Form1098Q
Department of the Treasury - Internal Revenue Service
Instructions for Participant
The information on this Form 1098-Q is submitted to the IRS
Box 1a. Annuity amount on start date. If the payments have
by the issuer of your qualifying longevity annuity contract
not started, shows the annuity amount payable on start date.
(QLAC) to report the status of the contract. Prior to
Box 1b. Annuity start date. If the payments have not started,
annuitization, the value of any QLAC held by your plan or IRA
shows the date on which the annuity is scheduled to start. The
(section 401(a), 403(a), 403(b), or 408 (other than a Roth IRA);
date reported is shown in the format month, day, and year,
or eligible governmental plan under section 457(b)) is not
mm/dd/yyyy.
included when calculating the required minimum distribution
Box 2. If checked, shows that the start date may be
(RMD) from your plan or IRA.
accelerated.
You will receive this statement annually beginning with the
Box 3. Shows the cumulative total amount of premiums paid
first year in which premiums are paid and ending with the
for the contract. Beginning in 2020, your cumulative total
earlier of the year in which you attain age 85 or die. In the
premiums paid for all QLACs cannot exceed $135,000. Also,
event of your death, if the sole beneficiary under the contract
QLACs purchased under an IRA cannot exceed 25% of your
is your surviving spouse, this annual statement will be
total IRA account balances and QLACs purchased under an
furnished to your surviving spouse until distributions
employer’s plan cannot exceed 25% of your account balance
commence, or if earlier, the year in which your surviving
in the plan. If you have paid more than that, contact your
spouse dies.
contract issuer.
If you have questions about your QLAC, contact the issuer
Box 4. Shows the fair market value (FMV) of your QLAC as of
at the address and phone number shown on the front of the
December 31 of the reporting year.
form.
Boxes 5a–5l. Show the amount of each premium paid for the
Account number. May show an account or other unique
contract and the date each premium payment was made in
number the issuer assigned to distinguish your account.
the reporting year. If there is more than one payment per
Participant’s taxpayer identification number (TIN). For your
month, the box for that month will include the total payments
protection, this form may show only the last four digits of your
for the month and the date of the last payment in the month.
TIN (social security number (SSN), individual taxpayer
Future developments. For the latest information about
identification number (ITIN), adoption taxpayer identification
developments related to Form 1098-Q and its instructions,
number (ATIN), or employer identification number (EIN)).
such as legislation enacted after they were published, go to
However, the issuer has reported your complete TIN to the
www.irs.gov/Form1098Q.
IRS.
Plan number, name, and EIN. Shows, if the contract was
purchased under a plan, the number of the plan, the name of
the plan, and the EIN of the plan sponsor.
VOID
CORRECTED
ISSUER’S name, street address, city or town, state or province, country, ZIP
ISSUER’S TIN
OMB No. 1545-2234
or foreign postal code, and telephone no.
Qualifying
1098-Q
PARTICIPANT’S TIN
Longevity Annuity
Form
Contract
(Rev. December 2019)
Information
1a Annuity amount on start date
For calendar year
20
$
2 Check if start date may be
1b Annuity start date
Copy C
accelerated
For Issuer
3 Total premiums
4 FMV of QLAC
$
$
PARTICIPANT’S name
5a January
dd
5b February
dd
For Privacy Act
$
$
and Paperwork
Reduction Act
5c March
dd
5d April
dd
Notice, see the
$
$
Street address (including apt. no.)
current General
5e May
dd
5f June
dd
Instructions for
$
$
Certain Information
Returns.
5g July
dd
5h August
dd
$
$
City or town, state or province, country, and ZIP or foreign postal code
5i September
dd
5j October
dd
$
$
Account number (see instructions)
Plan number
5k November
dd
5l December
dd
$
$
Name of plan
Plan sponsor’s EIN
1098-Q
Form
(Rev. 12-2019)
www.irs.gov/Form1098Q
Department of the Treasury - Internal Revenue Service
Instructions for Issuer
To complete Form 1098-Q, use:
To file electronically, you must have software that
generates a file according to the specifications in Pub.
• The current General Instructions for Certain
1220. The IRS does not provide a fill-in form option for
Information Returns, and
Copy A.
• The current Instructions for Form 1098-Q.
Need help? If you have questions about reporting on
To order these instructions and additional forms, go
Form 1098-Q, call the information reporting customer
to www.irs.gov/Form1098Q.
service site toll free at 866-455-7438 or 304-263-8700
(not toll free). Persons with a hearing or speech
Caution: Because paper forms are scanned during
disability with access to TTY/TDD equipment can call
processing, you cannot file Forms 1096, 1097, 1098,
304-579-4827 (not toll free).
1099, 3921, or 5498 that you print from the IRS website.
Filing and furnishing. For filing and furnishing
instructions, including due dates, and to request filing or
furnishing extensions, see the current General
Instructions for Certain Information Returns.