As tax season approaches, we want to inform you about a change to Box 5 on your 1099-R form. In the past, Box 5 showed insurance premiums. This year, it will display your non-taxable amount instead.

The non-taxable amount represents the contributions you made while working, which are not taxed when you retire.

Box 5 is provided for informational purpose only and is already reflected in the Federal (Box 2a) and State (Box 14) Taxable Amount figures.

This change helps you easily see how much of your retirement income is non-taxable, ensuring you’re not taxed on money you’ve already contributed.

Please view the following guide for more information on Understanding Your 1099-R Form

For specific questions about your 1099-R, contact your tax advisor or the IRS at 800-829-1040. More information is provided by the IRS.