2016 Retiree Tax Documents Have Been Mailed

CONCORD, N.H., Jan. 17 -- The New Hampshire Retirement System issued the following news release:

Copies of 2016 Internal Revenue Service (IRS) Form 1099-R for New Hampshire Retirement System retirees and beneficiaries have been mailed.

All retirees and beneficiaries will begin receiving paper copies of these important tax documents via U.S. Mail later this week, however, anyone wishing to get a jump on tax filing may print out their 1099-Rs immediately through My Account, the retirement system's online portal.

A Form 1099-R is an IRS form which reports a taxpayer's distributions that are considered reportable income from pensions, annuities, IRAs, insurance contracts, profit-sharing plans and/or retirement plans. Form 1099-R reports the gross distribution, any taxable amount applicable to that gross distribution, and any portion of federal income that was withheld, as well as other tax information.

Retirees and beneficiaries who would like to access their Form 1099-R electronically can sign up for My Account at: www.nhrs.org/my-account. My Account provides retirees with access to personal data such as account balances, beneficiary designations, year-to-date retirement benefit summaries, deductions, direct deposit status, and federal withholding information.

Important note: If you receive a pension benefit and a beneficiary benefit OR if you receive multiple pension benefits you will need to print multiple Form 1099-Rs from My Account to obtain all of your required tax information. An informational graphic on how to print multiple copies is available at: https://www.nhrs.org/docs/default-source/other/my-account-1099r---multiple-benefits.pdf

An informational graphic on how to read your Form 1099-R is available at: https://www.nhrs.org/docs/default-source/other/1099r_how-to-read.pdf

Answers to frequently asked questions concerning your 1099-R can be found at: https://www.nhrs.org/faqs/faq-1099r

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