Frequently Asked Questions Regarding Retiree Taxes and 1099R Forms
When will I receive my 1099R?
1099R forms for all retirees and beneficiaries will be postmarked no later than January 31 of each year.
What is a form 1099R?
IRS form 1099R is how we are required to report your retirement income to the Internal Revenue Service (IRS) for tax purposes. We are also required to provide copies to retirees and beneficiaries, which we do in January of each year. For those who are recently retired, the 1099R form is somewhat equivalent to the W2 form that you received as an active employee.
Is health, dental or life insurance premium information on my 1099R?
No, 1099Rs do not include insurance premium information. This information can be found on your December pay advice.
Can I claim the medical insurance premiums I have paid, on my Tax Returns?
Because the answer to this question is dependent upon many factors other than your retirement income, we recommend that you consult with a qualified expert (accountant, attorney, financial planner, etc.) regarding this issue.
1099R Box 5 shows an amount for employee contributions, what is this for?
This is the amount of your benefit that is not subject to tax. It includes contributions you made to the corresponding Retirement System prior to 1985, or service credit purchased; you already paid income taxes on such contributions.
What does Box 7 Distribution code(s) mean?
The code identifying the type of benefit you received in the tax year. The codes are listed on the back of your 1099R.
Why did I receive more than one 1099R?
You may receive more than one 1099R if you received a retirement benefit and a refund of contributions within the same tax year. For example:
- Monthly retirement allowance – taxable income
- DROP account balance – taxable if lump sum distribution; not taxable if rollover (verify with boxes 2a and 7)
- DROP account post-tax distribution – not taxable (verify with box 2a, 5 and 7)
I have received more than one 1099R. Do I need to report those as income on my Tax Return?
Because the answer to this question is dependent upon many factors other than your retirement income, we recommend that you consult with a qualified expert (accountant, attorney, financial planner, etc.) regarding this issue.
Will you withhold state tax if I live outside of Virginia?
We are unable to withhold any state taxes other than for Virginia. You may contact your state’s taxation agency for information about paying quarterly estimated taxes.
How can I change my tax withholding?
You may change your withholding by completing and returning Form W-4P for Federal withholding or Form VA-4P for Virginia withholding.
I need my tax documents. Can I pick up my 1099R/Pay Advice at the Retirement office?
- We have mailed your December pay advice and Form 1099R to you at the mailing address we have on file. If you haven’t received them, or need additional copies, you may contact our office at 703-279-8200 or visit our office to obtain copies (with your photo ID). You can also print your own 1099R by clicking on "My Retirement Account Log-In" from the Retirement Systems home page. Or, you can go directly to the "Log In" page, by clicking on this link - Fairfax WMS Member Welcome
- If you are an active employee and need a Form W-2, call Human Resources at 703-324-3311 (County) or 571-423-3200 (FCPS).
How can I update my contact information?
You may change your contact information by completing and returning the appropriate Change of Address form below:
Where can I find free tax service if I am a resident of Fairfax County?
Fairfax County Retirement Systems does not provide, and is not in the position to provide tax advice. If you or your family earned less than $73,000 in 2022, you may qualify for a free service through NVACASH Coalition. Please visit http://nvacash.org/vita/?pagename=free tax preparation for more information.