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previous pagePrevious Page: Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.) > Correcting Plan Errors
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Frequently Asked Tax Questions

Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.) - General/Taxability Issues including Distributions, Early Withdrawals, 10% Additional Tax, Defaulted Loans


Rev. date: 1/2009

Am I considered covered by an employer sponsored retirement plan for the year if I do not participate in the plan or if I did not work long enough to be vested?


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previous topic occurrence Contributions (IRAs & Pension Plans) next topic occurrence
previous topic occurrence Covered by an employer retirement plan. next topic occurrence
previous topic occurrence Individual Retirement Arrangement next topic occurrence
previous topic occurrence Nondeductible Contributions (IRA) next topic occurrence
previous topic occurrence Plan next topic occurrence
previous topic occurrence Profit Sharing Plan next topic occurrence
previous topic occurrence Qualified Plan next topic occurrence
previous topic occurrence Retirement Plan next topic occurrence
previous topic occurrence Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) next topic occurrence
previous topic occurrence Tax Sheltered Annuity next topic occurrence
previous topic occurrence Traditional IRA next topic occurrence

The answer to this question depends on the type of retirement plan.
Generally, if your employer's plan has a separate account for each employee, it is a defined contribution plan.
In the other type of plan, a defined benefit plan:
The Form W-2 (PDF) you receive from your employer has a box used to indicate whether you were covered for the year. The "Pension Plan" box should be checked if you were covered in a plan sponsored by the employer.

Rev. date: 1/2009

This is the first year that I received a distribution of benefits from my 401(k) plan. Are any of my benefits taxable?


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previous topic occurrence 1099-R next topic occurrence
previous topic occurrence Distributions, Minimum required next topic occurrence
previous topic occurrence Pension and Annuity Income next topic occurrence
previous topic occurrence Plan next topic occurrence
previous topic occurrence Profit Sharing Plan next topic occurrence
previous topic occurrence Qualified Plan next topic occurrence
previous topic occurrence Qualified Withdrawals next topic occurrence
previous topic occurrence Retirement Plan next topic occurrence

If you receive retirement benefits in the form of pension or annuity payments, the amounts you receive may be fully taxable, or partly taxable in the year received.
Your pension or annuity is usually fully taxable:
Generally, your pension or annuity will be partially taxable:
If you receive pension or annuity payments before age 59-1/2, you may be subject to an additional 10% tax on early distributions.  See Publication 575.
previous pagePrevious Page: Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.) > Correcting Plan Errors
next pageNext Page:  Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.) > Plan Design
 Use previous pagenext page to find additional instances of index items.