1099 Tax Forms
Your 1099-R Tax Form
The Cook County Pension Fund (CCPF) sends 1099-R tax forms every year in late January. If you don't receive your 1099-R by the second week in February or if you moved or have a new address, you must complete a Tax Center Change of Address Form as soon as possible. Download the form and mail or fax the form to the CCPF office.
Understanding Your 1099 Tax Forms
Box 1: Reports your gross annuity paid
Box 2a: Reports your taxable amount paid
Box 4: Reports your federal tax withheld
Box 5: Reports your non-taxable amount paid during the reporting year
Your non-taxable amount paid during that period is determined by any post-tax contributions you made to CCPF prior to your retirement. Box 1 - Box 2a = Box 5.
The Internal Revenue Service revises the tax tables, which could affect the amount of tax withheld from your benefit check. Your tax advisor can help you decide whether to adjust your withholding amounts for the year.
You are entitled to change the federal tax withholding on your annuity at any time. To do so, download the Federal Tax Withholding Change form or call (312) 603-1200 to request a form by mail. If you are among the majority of members who receive an annuity via direct deposit, you will receive a January 1 advice that reflects the gross annuity, deductions, and net payment amount for the year. Keep this advice in your records for future reference.