IRS Tax Record FAQ Why did you receive this Form 1099-R?

Principal Life Insurance Company
Des Moines, IA 50392-0001
www.principal.com
A member of the Principal Financial Group
IRS Tax Record FAQ
Why did you receive this Form 1099-R?
The tax record you received is a copy of what Principal Life Insurance Company (Principal Life) submitted to the Internal Revenue
Service (IRS) on your behalf.
You received this tax record because a distribution for your benefit was processed from your organization’s retirement plan in the last
tax year by the Principal Life or Principal Trust CompanySM. This distribution was from a retirement plan in one or more of the
following forms as a result of a benefit event (left employment, retired, etc.) or early withdrawal of benefits:
•
Cash
•
Direct Rollover
•
Unpaid Loan Balance
•
Stock Certificate
Please refer to the back of the Form 1099-R to verify which type of distribution you have had over the past year.
Gross distribution
Amount Withheld
Commonly used distribution codes found on the back of your Form
1099-R:
Code in
“Box 7”
G
1
Distribution Code
7
Reason Received
You completed a qualified rollover to an Individual
Retirement Account. This is not a taxable event and the
Form 1099-R is for informational purposes only.
You had an early or premature distribution that was
taken from your retirement account.
A distribution was taken from the retirement plan.
Standard taxation applies to this distribution. Federal
penalty does not apply to this distribution.
If you do not remember receiving a check or ACH, the check or ACH may have been a payment from a current or former employer’s
retirement plan, with administrative services provided by Principal Life.
•
Please review your personal records for a copy of either a check stub or any correspondence. You may have received a
benefit other than cash, for example, an outstanding loan balance would become a taxable distribution if you didn’t repay the
loan when you separated from service.
•
This is being reported for the tax year listed on the tax record. The taxable amount shown is the benefit taxable to you in
that tax year. If you received more than one tax record, the total from all records in the taxable amount section is your total
benefit for that tax year.
What should you do with this form?
If you file taxes, you may need to report the total benefit on your tax return. Please consult with your individual tax preparer, legal
advisor or the IRS to see if you need to file a tax return. Principal Life cannot provide tax advice or help to complete tax forms. If you
do not file taxes, please keep the tax record with your important records.
What if I have questions?
If you have any additional questions, please feel free to call 1-800-547-7754. Retirement specialists are available to assist you 7:00
a.m. – 9:00 p.m. (CT), Monday – Friday.
t1212120229
Insurance products and plan administrative services are provided by Principal Life Insurance Company a member of the Principal Financial Group, Des
Moines, IA 50392.
PG 546-9
12/2012