2020 1099-R Tax Forms for CSRS and FERS annuitants
According to the Office of Personnel Management (OPM), all 1099-R forms for 2020 were mailed to annuitants by January 31. Depending on where the annuitant lives, mailed 1099-R tax forms may not be received until mid-February.
An annuitant with a Retirement Services Online (RSO) account under OPM can access the 2020 1099-R now. Go to: https://www.servicesonline.opm.gov/
Thrift Savings Plan (TSP)
Annual TSP Participant Statements for 2020
According to the TSP in an email alert on Feb. 4, annual participant statements are online and in the mail. “Your annual 2020 participant statement, covering the period from January 1 through December 31, 2020, is now available in My Account,”, the TSP stated. Participants can log into the My Account area at www.TSP.gov
The Thrift Savings Plan has mailed IRS Form 1099-R to participants who received a withdrawal up to December 29, 2020.
TSP 1099-Rs for repaid 2020 RMDs are correct
From the TSP announcement on Jan. 26:
“If you received a required minimum distribution (RMD) from your TSP account in 2020, we must report the income and send you a Form 1099-R even if you rolled the money back into your account or into another retirement account under the terms of the CARES Act. You may have already received the 1099-R. You should not expect a “corrected” 1099-R. Remember that not all reported income is taxable income. If you received an RMD that was eligible for rollover in 2020 and you repaid it or rolled it over by the deadline, then it’s not taxable income. Please consult the IRS or a tax adviser for instructions and additional information on tax filing.”
RELATED: TSP Participants Should Carefully Examine 2020 Form 1099-R Statements, by Ed Zurndorfer