Your qualified retirement benefit payments are tax reportable.
Since retirement benefit payments from group annuity contracts are tax reportable, it’s important that you keep your address of record current so you can receive your tax forms on time.
- To update your address, click here.
- To request a duplicate tax form be sent to your address of record for a prior tax year, click here.
- To change your tax withholding information, click here.
For federal tax identification certification purposes, John Hancock will request you complete and submit the most recent version of IRS Form W-9 or, if applicable, IRS Form W-8BEN.
Federal tax withholding depends on the type of payment you elect.
- Periodic payments are substantially equal payments made at least once a year over the life of the participant and/or contingent annuitant for 10 years or more.
- Non-periodic payments are one-time lump-sum payments. Per IRS regulations, John Hancock is required to withhold a mandatory 20% of all lump sum distributions made to spousal and non-spousal beneficiaries who do not elect a direct roll-over.
State tax withholdings vary by state. Please speak with a qualified tax professional or visit your state's Department of Revenue website for information specific to your state. If you move to a new state, please note that different tax withholding may be required for that state.
Please click here for an overview of state requirements.