Equitable Life Insurance and Annuity policy owners, who had a taxable or reportable transaction in 2021 (for example: a surrender, withdrawal, 1035 exchange to a policy with another company, or the payment of most interest) will receive a 1099 tax form in accordance with IRS guidelines for tax reporting purposes. Generally, the 1099-R and 1099-INT tax forms are made available via Equitable Client Portal (Register or Login Here) and mailed to clients by the end of the January following the tax year that just ended. Equitable strongly recommends going online to our website Equitable Client Portal to retrieve your 1099-R and/or 1099-INT tax forms as they will be made available online prior to the mailing and will expedite the process of filing your tax return.

1099-R AND 1099-INT TAX FORMS FOR TAX YEAR 2021 WILL BE AVAILABLE ONLINE BY LOGGING INTO Equitable Client Portal ON OR ABOUT THE LAST WEEK OF JANUARY 2022.

Equitable annuity contract owners who made reportable contributions or rollovers into their IRA contracts in or for the 2021 tax year will receive a Form 5498 in accordance with IRS guidelines for tax reporting purposes. Please note that the IRS allows individuals to make non-rollover contributions to IRAs for 2021 up to April 15th, 2022. Accordingly, 5498 tax forms are also made available online by logging into our website Equitable Client Portal (Register Here) prior to being mailed to clients in May 2022.

In order to retrieve your documents online, please login to your account online and enroll in eDelivery of Tax Forms.  Tax forms will be loaded under the eStatements tab. If you are not registered for Equitable Client Portal, you can register here.

Below are key terms, definitions, and FAQ’s that will facilitate your understanding of the tax forms you have or will receive with respect to your  life insurance policy or annuity.

Terms and definitions

1099-R Form – The tax form used to report taxable transactions for a life insurance policy or annuity (for example, gain on a surrender or certain lapses).  It is also used to report dividends earned when the total dividends paid to the owner have exceeded total premiums paid into the policy and used to report charges or payments on qualifying Long Term Care Services Riders and calling out that federal tax rules require insurers to report such amounts but these amounts are not taxable.

1099-INT Form – The tax form used to report interest credited on dividends left on deposit and interest on death claims.

1099-MISC – The tax form used to report miscellaneous income for a tax year.

Gross Distribution – The total amount of the distribution, withdrawal, surrender, or 1035 exchange to a policy with another company.

Taxable Amount – The total taxable amount of the distribution.

Cost Basis – The contract holder’s investment in the policy (Also called the tax basis), on our records.

1035 Exchange – The exchange of life insurance policy or annuity for another life insurance policy or annuity issued by another life insurance company.  The exchange of a life insurance policy for an annuity contract or long-term care insurance policy is also a 1035 exchange.  In most cases, a 1035 exchange transaction is not taxable but is reportable and therefore a 1099-R is issued by the surrendering carrier.

Distribution Codes – The code found in Box 7 of a 1099-R that indicates to the IRS the type of transaction reported in that tax year.  See below for a chart of common IRS distribution codes found on 1099-R we send to policy owners.

If after reviewing the above terms and definitions and you still have questions or concerns regarding the tax form you may or may not have received, please reference the FAQ applicable to your specific product.