John Hancock Variable Annuities are distributed by John Hancock Distributors LLC. Instead, take note of the sender's address and message and contact us so we can help you take action. An IRS Form 1099-R is a tax form used for reporting distributions from both qualified and non-qualified annuity contracts. You will not receive a 5498 form if you did not make any contributions or rollovers to your IRA for the tax year, if there were no other reportable transactions or information, if you do not have an IRA, or if we have an incorrect mailing address on file for your annuity contract. If you are filing a claim as an individually named beneficiary, and not acting on behalf of an entity or as as a fiduciary for another individual, you may be eligible for our Express Claims feature, which allows you to process a claim quickly and easily over the phone. To view a PDF file, you must have Adobe Acrobat Reader installed on your computer. Please note John Hancock policy restricts additional payments into certain annuity contracts. Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, New York. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. If you are already registered and can’t log in and have not been locked out of your account after 3 failed login attempts, please click here to reset your password. Please consult with your own attorney for any state-specific requirements. How can I view Required Minimum Distribution values? What are the benefits of a fixed annuity? How can I tell if I should receive a 1099-R form? From the left-hand menu, click on the Portfolio Holdings under “See details of…” or scroll down the page and find the Portfolio Holdings section. Check off boxes next to the documents you wish to receive electronically and submit your changes. Where can I find my contract's tax cost basis? If a beneficiary is not a U.S. citizen, U.S. resident alien or other U.S. person, that beneficiary must submit a separate properly completed IRS Form W-8 instead. If you are the beneficiary receiving a claim payout and the amount is $10,000 or greater, you may elect to have the funds placed into a Safe Access Account. You can call us weekdays from 8 a.m. - 6 p.m. Eastern Time at 1-800-344-1029. In New York, John Hancock Annuities are issued by John Hancock Life Insurance Company of New York, Valhalla, NY 10595. Please contact us at 1-800-344-1029 to talk to a customer service representative. Yes, you can. If you have questions regarding fee percentages, please speak with a customer service representative at 1-800-344-1029. Professional management – portfolios are managed by qualified investment managers. SUPPLEMENT w/ details on Tax center home page. Documentation to substantiate the change must be submitted; for example, a copy of a divorce decree or marriage certificate. Where can I find information about a product I purchased from John Hancock. Consequently, the taxpayer actually receives only 80% of the taxable portion of the distribution. To view your total average rates of return, use the Calculate Rate of Return function on the left side. 1-800-624-5155 Your browser appears to be out of date. Will I receive a tax form for a 1035 exchange? Your voiceprint can be used for authentication across your Life Insurance, Annuities and Long-Term Care accounts with John Hancock. What is your physical address if I need to overnight forms or a check? Please consult with your own tax professional for guidelines specific to your situation. How do I process a fund value exchange online? There are different Forms W-8 depending on the beneficiary’s status. However, due to market volatility, we cannot process partial claims on variable annuity contracts. Boston, MA 02205-5446, Express Mail Please enter your Username on the Log In page prior to clicking on Forgot/Reset Password. Instead, take note of the sender's address and message and contact us so we can help you take action. If your system does not have this program, you will not be able to access these forms. As always, please contact your financial representative or tax professional regarding your specific circumstances. How to Complete IRS Form W-9 Relating to Your John Hancock Annuity Claim? John Hancock is a life insurance company offering term, permanent, and final expense with guaranteed acceptance policies. A qualified tax professional will be able to tell you which, if any, of your withdrawals in the previous tax year should be reported on a 1099-R form. The maximum estate tax rate remains at 40% for 2021. All values are updated every business day and are calculated using the most recent market closing prices, typically the previous day’s closing prices. must be completed within 60 days of receiving the distribution (if the taxpayer does not complete the rollover within 60 days, the entire distribution will be taxable) and. Scroll down to the Financial Summary section, Non-qualified contracts distribution to owner(s), Roth recharacterization (Roth IRA to IRA), Scroll down to the Contract Specifications section to view withdrawals and filter the transaction type and date range as necessary, If you do not have an online account, register, You will not receive a 5498 form if you did not make any contributions or rollovers to your IRA for the tax year, if there were no other reportable transactions or information, if you do not have an IRA, or if we have an incorrect mailing address on file for your annuity contract. Then, after logging in to your account, you will see your contract value right on your homepage under your Contract Quick View. The Adobe Acrobat Reader is a free program that allows you to view and print documents in Adobe's Portable Document Format (file names ending in the extension ".pdf"). This will bring you to the Contract Details page, which provides the following information: How often is my online contract information updated? Predictability : Fixed interest rates are guaranteed. To find out if you are eligible to make an additional payment into your John Hancock annuity contract, please call our Customer Service line at 1-800-344-1029. If I participate in a retirement plan at work, such as a 401(k), 403(b), SIMPLE IRA, pension plan or profit sharing plan, can I still contribute to my own IRA? The IRS deadline for issuing Form 5498 is May 31. Our website prohibits personal information from being transmitted if a secure connection is not established. If you need additional guidance in registering, click. To access your account again, simply log back in. The form is issued to the contract owner for the following qualified plans: Traditional IRAs, Roth IRAs, SEP IRAs and Simple IRAs. A 1035 exchange is an exchange of all or part of an existing non-qualified annuity contract for another non-qualified annuity contract. Generally for proceeds of $10,000 or more, a court-appointed guardian or conservator of the minor’s property must submit the claim. When you sign up, you receive: You must first register to view your account information online. Please note that you may do only one indirect rollover from your IRAs during any 12-month period. Suite 55446 SSL scrambles your personal information as it travels from your browser to our secure web server. If you are already registered and can’t log in and have not been locked out of your account after 3 failed login attempts, please click, Present and past contract and portfolio values, Amount of any surrender penalties, surrender value, and the amount you can withdraw from your contract before any surrender penalties are charged (if applicable), Special programs in which you may participate, Contract designations, i.e., owner(s), annuitant(s) and beneficiary(ies), Online access to documents like statements, prosepctuses, 1099R's and Privacy Notice, If you receive an email from John Hancock that looks suspicious, DO NOT click on any links within the email. Tax-Efficiency – Money is distributed over several years, which also spreads out the income tax due on those distributions. Please consult with a qualified tax professional if you have further questions about the tax treatment of your annuity contract. How do I check my contract information online? How to Complete the John Hancock Annuities Required Minimum Distribution (RMD) Request Form? Emails regarding any financial activity in your account. If the name was entered incorrectly or misspelled, the process must be initiated again as the information cannot be changed once submitted. Benefits of a fixed annuity include the following: What are the benefits of an immediate annuity? Group annuity contracts and recordkeeping agreements are issued by: John Hancock Life Insurance Company of New York, Valhalla, New York. Can more than one voiceprint be associated with my account? Unlike passwords or PINs, your voiceprint can’t be guessed. For example, if the amount deposited in the new plan equals 80% of the taxable portion of the total distribution, the other 20% will be taxable. Log in to your account and click the “My Contract” tab on the left-hand navigation menu. Insurers are required to report certain transactions to the IRS on Form 1099-R. What is the difference between qualified and non-qualified contracts? Read the Terms and Conditions, check the box below, and click the gray “Continue” button. between 8 a.m. and 5 p.m. Eastern Time, Regular Mail John Hancock Annuities - Home Page. However, please note that a distribution from an IRA or non-qualified annuity contract will be reported as income to the contract owner, even if the distribution is paid to the owner’s spouse or former spouse as part of a divorce settlement. If money is transferred directly to another insurance company as part of an exchange of contracts under Section 1035 of the Internal Revenue Code, the transaction is reportable even though it is not subject to tax. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. How can I view fees and charges on my contract online? For New York Contracts Mailing Address John Hancock Annuities Service Center PO Box 55445 Boston, MA 02205-5445. You will receive a 1099-R to report a 1035 exchange to another insurance company. What happens if my voiceprint is not recognized? Can a claim be processed prior to receiving claims forms from all beneficiaries? Please contact your own tax professional with any questions about your personal tax situation. Click on the My Contracts tab and click on the contract number you wish to view if you have multiple contracts with us. A link that you can use to return to your form at a later time will then be sent to your email address. Withdrawals are generally tax reportable and taxable at ordinary income rates. Click here to learn about your rider's features*. Looking for more information on your group pension special offer? Competitive Rates: higher interest rates are available if the initial premium falls within certain dollar amounts. When initiating the online form submission process, can I provide more than one email address? Claim Center. Your withdrawal information is available on the Contract Details page of your online account. John Hancock Insurance Nature of Inquiry: This will help us expedite your request. Other services specially requested could incur other costs, which would be disclosed before service. The download is a self-running installation program. Westwood, MA 02090. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. What are the benefits of a variable annuity? Click here to view John Hancock’s Required Minimum Distribution (RMD) Guide: All you need to know about your RMD. It is a digital combination of behavioral and physical patterns in your voice and is not a recording of what you are saying. In New York, John Hancock Annuities are issued by John Hancock Life Insurance Company of New York, Valhalla, NY 10595. Please click here to access a reference guide for reading your 1099-R. TEST. This can be submitted online as well. Will the missed payments be made up when I submit the “Income Made Easy” form? Thus, an annuity should only be purchased in an IRA or qualified plan if some of the other features of the annuity are of value, such as access to specific portfolio choices, the ability to have guaranteed payments for life and other guaranteed benefits, and you are willing to incur any additional costs associated with the annuity to receive such benefits. Please call our Customer Service line at 1-800-344-1029. Immediate annuity: An immediate annuity is based on a one-time premium that provides income that is guaranteed to last as long as the payout period you elect, subject to the claims-paying ability of the issuing insurance company. Fixed annuity: A fixed annuity provides income that is guaranteed to last as long as the payout period you elect, subject to the claims-paying ability of the issuing insurance company. This service meets the most rigorous security industry certification standards. A distribution must then be taken at least once annually every year after that, no later than December 31. Does the income benefit on my spouse’s contract automatically restart if I select Spousal Continuation? Resources, FAQs, contact information and more. John Tucker - State Farm Insurance Agent. 2 After the expiration of the 2 year period, the IRA owner may rollover money to an IRA that is not a SIMPLE IRA. This form is not available online. If we are unable to verify your identity through your voiceprint, we will verify it by asking you security questions. As you speak with one of our customer service representatives, your unique voiceprint is created from more than 100 different physical and behavioral characteristics such as pitch and accent. Withdrawals from tax cost basis are not reported as taxable on a 1099-R form. In New York, John Hancock Annuities are issued by John Hancock Life Insurance Company of New York, Valhalla, NY 10595. If the benefit was “Income Plus For Life–Joint Life” then the rider would continue to a spouse who was also named as a Covered Person under the rider. Additionally, you can also submit this form online. Does your contract have an Income Plus For Life (IPFL) rider? Should I be expecting a tax statement in the mail? If any funds are paid to the taxpayer, all or part of those funds may be taxed as income, depending on the gains in the original contract. An email address will be requested for the initiator, owner and, if applicable, co-owner. Main home page. John Hancock Annuities Service Center PO Box 55445 Boston, MA 02205-5445 Overnight Mailing Address Annuities Service Center John Hancock Insurance 410 University Avenue, Suite 55444 Westwood, MA 02090. If your contract does not include a withdrawal benefit rider, please visit our forms page to download, print, complete and return the Required Minimum Request form for processing. Most forms on this site are in PDF format. Please refer to the instructions on Forms W-9 and W-8 on how to complete each form. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. Fixed Annuities. From the left-hand menu, click on the Contract Transaction History under “See details of…” or scroll down the page and find the Contract Transaction History section. The RMD amount calculated by John Hancock for your annuity contract can be found on the Contract Details page of your online account. A Safe Access Account is an interest-bearing account from which checks can be written to access the account balance that is guaranteed by John Hancock. When do I need to complete IRS Form W-9 versus IRS Form w-8? If all beneficiaries passed away before the annuity owner, the proceeds are paid to the owner’s estate. What does it mean to annuitize your contract? You do not need to go through a recovery agency as they will charge a fee for their services. Always have your key documents at your fingertips by signing up for Paperless Settings. No, there is no requirement to file a Form 1099-R to report a direct trustee-to-trustee transfer from one traditional IRA to another. If you have further questions regarding the tax implications of or process for indirect rollovers, please consult your tax professional or financial representative. Depending on the type of contract you own, a withdrawal, or certain other transactions, may subject you to tax on all or a portion of those earnings. Please be sure to include your policy number and full contact information. doxo is the simple, protected way to pay your bills with a single account and accomplish your financial goals. The third-party program provider, DocuSign, does not have access to any of your information used during the submission process of your John Hancock form. Access to this site’s secure contract registration is limited to authorized users ONLY. Please upgrade to the latest version for the best experience of the website. No. Instant, secure access to your contract statements, transaction confirmations, and prospectuses and supplements. If the estate will not be probated, it may be possible to claim the death benefit with a small estate affidavit, depending on the amount of the death benefit. When considering an annuity for use in an IRA or other tax-qualified retirement plan (i.e., 401(k), 403(b), 457), it is important to note that there is no additional tax deferral benefit, since these plans are already afforded tax-deferred status. A variable annuity combines investment and protection features into one financial product. The custodian is responsible for any reporting requirements and must produce a 1099-R if a distribution is taken or another reportable transaction occurs. Just click on the “Finish Later” button in the upper right-hand corner of your screen and then click the “Save & Close” button when prompted. The current charge for these transactions and certain other requested services is $19. 1 They are reportable and taxable if the account owner takes receipt of the money. How do I make a withdrawal from my contract? John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. A 1035 exchange allows the taxpayer to defer income tax when replacing all or part of his or her current non-qualified annuity contract with another non-qualified annuity contract. When will I receive it? John Hancock will automatically calculate the amount of your RMD every year. First you must register if you have not already. It was the first insurance company to offer discounts for healthy habits. The taxpayer must deposit an amount equal to 100% of the taxable portion of the distribution from the original plan into the other plan; otherwise, the shortfall will be taxable. The events and transactions outlined in the table below are general annuity tax guidelines. An annuity is a long-term contract between you and your insurance company that helps to provide retirement income. However, a 1035 exchange is not a taxable event. Please visit our forms page to download, print, complete and return the Income Made Easy form for processing. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. An RMD applies to most types of retirement plans, including, but not limited to: Traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k) plans, 403(b) plans, 457(b) plans, profit-sharing plans, and other qualified pension or retirement plans. Please speak with a customer service representative. As a security precaution, we automatically log you out of your account after 15 minutes of inactivity. John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. You may also have been logged out due to lost internet connection. IRS Form 5498 shows the contributions and/or rollover amounts paid into a traditional IRA, Roth IRA, SEP IRA or Simple IRA for the previous calendar year. We issue the forms throughout the last week of January. Can I save a form and return to it at a later time? In a 1035 exchange, the funds must be paid directly from one insurance company to another. Not sure how to find the answer to your inquiry? Withdrawals from your annuity first come from any contract gains and can reduce the death benefit, optional benefits and contract value. The new contract owner-annuitant must select a new maturity date because the original maturity date was based on the date of birth of the deceased owner-annuitant. You own a non-qualified annuity if you purchased it with after-tax dollars outside of an IRA or other qualified retirement plan; in general, income taxes are not due until distributions are made. Protection – Principal and interest are guaranteed if held for the length of the guarantee period. What happens if I do not take an annual RMD or mistakenly take less than my RMD? When does a new maturity date need to be elected? Withdrawals from these contracts will usually trigger a tax-reportable event if the contract value exceeds the tax cost basis. What should I do if my tax cost basis is wrong? Will John Hancock be able to continue to honor and send out Annuity and/or Pension payouts? 3. Enter and reenter your Social Security number, enter your contract number, and enter the code embedded in the image. What if my voice changes over time? You will not be able to view the administrative, distribution, or mortality and expense fees in the contract transaction history. Click here to download a form to change your address of record. Your contract transaction history lists applicable charges, fees, discounts, penalties or adjustments that may be imposed on your contract, including the annual contract fee, rider fees, and withdrawal charges, including certain service fees for paying out a withdrawal by wire, electronic fund transfer (EFT), or check via overnight mail. 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