Form 1098-Q - Qualifying Longevity Annuity Contract Information

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 purchased after July 1,

shows the date on which the annuity is scheduled to start. The

2014, held by your plan or IRA (section 401(a), 403(a), 403(b),

date reported is shown in the format month, day, and year

408 (other than a Roth IRA) or eligible governmental plan

(mmddyyyy).

under section 457(b)), is not included when calculating the

Box 2. If checked, shows that the start date may be

required minimum distribution (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. Your cumulative total premiums paid for all

earlier of the year in which you attain age 85 or die. In the

QLACs cannot exceed $125,000. Also, QLACs purchased

event of your death, if the sole beneficiary under the contract

under an IRA cannot exceed 25% of your total IRA account

is your surviving spouse, this annual statement will be

balances and QLACs purchased under an employer's plan

furnished to your surviving spouse until distributions

cannot exceed 25% of your account balance in the plan. If

commence, or if earlier, the year in which your surviving

you have paid more than that, contact your contract issuer.

spouse dies.

Box 4. Shows the fair market value (FMV) of your QLAC as of

If you have questions about your QLAC, contact the issuer

December 31, 2018.

at the address and phone number shown on the front of the

form.

Boxes 5a–5l. Shows the amount of each premium paid for the

contract and the date each premium payment was made in

Account number. May show an account or other unique

2018. If there is more than one payment per month, the box

number the issuer assigned to distinguish your account.

for that month will include the total payments for the month

Participant's taxpayer identification number (TIN). For your

and the date of the last payment in the month.

protection, this form may show only the last four digits of your

Future developments. For the latest information about

TIN (social security number (SSN), individual taxpayer

developments related to Form 1098-Q and its instructions,

identification number (ITIN), adoption taxpayer identification

such as legislation enacted after they were published, go to

number (ATIN), or employer identification number (EIN)).

However, the issuer has reported your complete TIN to the

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.

Form 1098-Q - Qualifying Longevity Annuity Contract Information - 2018 Page 4

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