Posted on Friday, 20th January 2023 by

Print This Post Print This Post

Federal annuitants typically receive their updated Annuity Statement, with the COLA increase added, early January. OPM’s 1099 R Tax Forms aren’t available until the end of January by regular mail while my Social Security’s SSA 1099 from was received January 10th!

Download Your Forms Now

Registered users of OPM’s Retirement Services Website can download their Annual Annuity Statement and 1099R form now. I downloaded mine this week.

OPM sends out updated annuity statements anytime there is a change that affects our annuity. Next month we will receive another paper statement showing FEHB healthcare and FEDVIP premium changes. The February statement is already posted and available for download on their retirement services website.

New statements are sent out throughout the year whenever there are changes to checking/savings allotments, income tax withholding, and long-term care insurance, etc.

The annual statement provides annuity and benefit information for you and your family. It includes the annuitant’s Claim number, the amount withheld for each item deducted from your annuity payment, and your gross and net payment. It specifies the monthly survivor annuity currently payable in the event of the annuitant’s death and includes an annual Notice of Survivor Annuity Election Rights. You will also find OPM contact information.

If you misplace your annual statement, download a copy from the website along with the instructions. They outline how to make benefit elections such as applying for a survivor election for a spouse you marry after retirement, survivor annuity elections for a former spouse, OPM contacts, and other information.

Retain Copies for Your Records

I keep the most current Notice of Annuity Adjustment in my retirement folder and include a copy in our estate binder along with OPM’s annuity and FEGLI insurance verification forms that OPM sends out upon request. You can also download them from OPM’s Services Online site. This is an important document and should be readily available if you or your survivor need to contact OPM or require benefit clarifications.

OPM’s Online Services

You must be registered to use OPM’s Retirement Services Website. If you aren’t registered review the latest changes to signing up for this service, they added an extra layer of security. It doesn’t take long; however, you may have to wait for your password to be sent via regular US mail and that can take several weeks.

Other Tax Forms

Many banks and brokerage house’s 1099 reports are also available online for download early. Treasury Direct doesn’t send copies. You must download your Treasury’s OID and 1099 INT statements from your online account. They are typically available mid-January. If you have complex investments, your brokerage 1099 statements could be delayed until mid-March or later.

Tax Preparation Software

I’ve used TurboTax software for decades. It’s intuitive and walks you through the entire process, double checks your work, and they allow you to file online. This software can also download and integrate your brokerage accounts into your tax return, saving considerable data entry time.

There are a number of free online filing services available through the IRS and several of the tax preparation services. The IRS allows you to file online at no cost if your annual income is less than $72,000. You will have to file your State taxes separately.

Take advantage of OPM’s Online Services to download your 1099R to file your taxes early, need to replace a lost 1099R, or to obtain other important retirement forms and reports.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspect of unique or special circumstances, federal regulations, medical procedures, and benefit information are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The advice and strategies contained herein may not be suitable for your situation and this service is not affiliated with OPM or any federal entity. You should consult with a financial, medical or human resource professional where appropriate. Neither the publisher or author shall be liable for any loss or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

Last 5 posts by Dennis Damp

Tags: , ,

Print This Post Print This Post

2 Responses to “Annuity Statements and 1099 R Tax Form Availability”

  1. David S. McIntyre Says:

    I need my 2022 tax 1099 OPM to do my taxes

  2. Dennis Damp Says:

    OPM sends them out via regular US mail by the end of January, it should arrive soon.