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Form 1098Q: Qualified Longevity Annuity Contract Information
IRS Form 1098Q is Qualified Longevity Annuity Contract Information, which reports details about QLACs. Any person issuing a contract intended to be a QLAC must file this form.
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IRS Form 1098Q - Qualified Longevity Annuity Contract Information
IRS Form 1098Q is Qualified Longevity Annuity Contract Information, which reports details about QLACs. Any person issuing a contract intended to be a QLAC must file this form.
Risk Radar
Scan points- 1Do not print and file Copy A downloaded from this website; a penalty may be imposed for filing with an unscannable copy.
- 2Filing without furnishing an annual statement to the participant
- 3Using a copy of Form 1098-Q that cannot be scanned by the IRS
- 4Incorrectly reporting the Total Premiums paid in Box 3
- 5Omitting the Plan Number or Name of Plan when applicable
Plain English
This form tells the IRS about an annuity contract that qualifies as a Qualified Longevity Annuity Contract (QLAC). It provides essential information so recipients know how their payments are structured and when they should expect them. The issuer uses Form 1098-Q to report these details annually.
Submission Date
- Filing date: 2025-03-21 22:10:13
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when issuing a contract intended to be a QLAC that is purchased or held under a plan, annuity, account described in section 401(a), 403(a), 403(b), or 408 (other than a Roth IRA); or an eligible governmental plan under section 457(b).
- Do not use this form when the contract is not intended to be a QLAC.
- Check General Instructions for Certain Information Returns instead when needing guidance on topics like backup withholding or penalties.
Form selector
Use this form or another form?
Employee dies before annuity start date
The benefit allowed is limited to 100% of the payment that would have been payable to the employee.
✓ Check Box 5a–5l for premium details.
Surviving spouse's death occurs after required beginning date
The return of premium payment is treated as an RMD and is not eligible for rollover.
✓ Check Part M instructions for confirmation.
Payments have not started yet
Box 2 may be checked to show the start date can be accelerated, and Box 3 shows cumulative premiums paid.
✓ Verify that the reported start date in Box 1 is correct.
Deadline or filing window
A return of premium payment must be paid no later than the end of the calendar year following the calendar year in which the employee dies. If the surviving spouse's death occurs after their required beginning date, the return of premium payment is treated as a Required Minimum Distribution (RMD) for the year it is paid and is not eligible for rollover.
Checklist
What you need before filling it out
Who must file
Any person issuing a QLAC contract · Instructions p.3
Annual furnishing requirement
The participant of the contract · Instructions p.3
Cumulative premium limit
Total premiums paid across all QLACs · Form p.4 (Box 3)
Death benefit limitation (Spouse)
Life annuity payable to surviving spouse · Instructions p.2
Life annuity start date (Beneficiary)
Designated beneficiary life annuity · Instructions p.3
Premium entry detail
Amount and date of each premium payment · Form p.4 (Boxes 5a–5l)
Before you submit
- 1Ensure the contract is intended to be a QLAC before filing Form 1098-Q.
- 2Verify that Box 3 (Cumulative total premiums paid) does not exceed $200,000.
- 3Confirm that Boxes 5a through 5l accurately list every premium payment amount and date in the reporting year.
- 4If payments have not started, confirm the start date shown in Box 1 is correct (mm/dd/yyyy).
- 5Check Box 2 if the annuity start date can be accelerated.
- 6Ensure the statement is furnished to the participant annually.
- 7Confirm that any life annuity payable to a designated beneficiary begins by the last day of the calendar year following the employee's death.
How to file this form
- 1Complete Boxes 5a through 5l by entering the amount and date for each premium paid during the reporting year.
- 2Fill in Box 3 with the cumulative total amount of premiums paid across all QLACs.
- 3Report the Fair Market Value (FMV) of the QLAC as of December 31 of the reporting year in Box 4.
- 4Indicate the contract start date in Box 1, and check Box 2 if acceleration is possible.
- 5Furnish a copy of Form 1098-Q to the participant annually.
- 6Retain a copy of the completed Form 1098-Q for your records.
Known limitations
- 1For plans, premiums satisfy the limitation requirement if they do not exceed the limitation amount for 2025, which is $200,000.
- 2For Traditional IRAs, premiums satisfy the limitation requirement if they do not exceed the limitation amount for 2025, which is $200,000.
- 3The QLAC contract must state that it is intended to be a QLAC when issued, or have a rider/endorsement reflecting this intent.
- 4A contract qualifies as a QLAC if it is not a variable contract under section 817, an indexed contract, or similar contract (unless the Commissioner provides guidance otherwise).
Field map
Compact field-by-field guide
Payer Info
1 items
Identifying information of the business or person making the payment.
Recipient Info
1 items
Identifying information of the person or entity receiving the payment.
Amounts
1 items
The payment amount subject to reporting for the applicable box category.
Withholding
1 items
Backup withholding amount if applicable.
Signatures
1 items
Name and phone number of the person to contact about this return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision April 2025 and instructions for tax year 2025 and subsequent years are provided. For the latest information, filers should consult IRS.gov/Form1098Q.
What changed or needs a fresh check
- Edition date — confirm Revision April 2025
- Future developments link — confirm IRS.gov/Form1098Q
- Cumulative premium limit — confirm $200,000 (Box 3)
- Required furnishing statement — confirm annually to the participant
- QLAC type check — confirm contract is intended to be a QLAC
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 1098-Q for your records.
- 2If filing electronically, ensure the submitted version is scannable to avoid penalties mentioned in Part O.
- 3When providing information to recipients, use Copy B or other black copies if printing from the website.
- 4For tax year 2025 and subsequent years, use these instructions until a superseding revision is issued.
Sources
- SRCInstructions p.1 — The official title for this form is Qualified Longevity Annuity Contract Information.
- SRCInstructions p.1 — For 2025, the limitation amount on premiums for plans is $200,000.
- SRCInstructions p.1 — The premium limit of $200,000 for plans is adjusted for inflation starting January 1, 2025, with increases rounded to the next lowest multiple of $10,000.
- SRCInstructions p.2 — For Traditional IRAs, the limitation amount on premiums for 2025 is $200,000.
- SRCForm p.1 — Copy A of Form 1098-Q is provided for informational purposes only and must be scannable if printed from this website.
- SRCInstructions p.3 — The account number is required when filing more than one Form 1098-Q for a recipient, but the IRS encourages designating an account number for all filings.
- SRCForm p.2 — Part 3 of Form 1098-Q requires reporting the Total premiums paid.
- SRCInstructions p.1 — Final regulations under section 401(a)(9) apply for distribution calendar years beginning on or after January 1, 2025.
Common confusion points
Who must file Form 1098-Q?
Any person issuing a contract intended to be a QLAC must file this form.
→ Confirm the contract was intended to be a QLAC upon issuance.
What is the premium limit for 2025?
The limitation amount for premiums paid with respect to the contract in 2025 is $200,000.
→ Check Part 3 on Form 1098-Q or Instructions p.1.
When do these inflation adjustments apply?
Inflation adjustments to dollar limitations begin applying for calendar years starting on or after January 1, 2025.
→ Verify the form's revision date reads April 2025 (or later).
Do I need an Account Number always?
The account number is required if filing more than one Form 1098-Q for a single recipient, but the IRS encourages designating one for all filings.
→ Check Part L of the General Instructions.
What happens after the employee dies?
No benefits are provided under the contract after death other than those described in paragraph (q)(3) of Regulations section 1.401(a)(9)-6.
→ Review the instructions to confirm this specific exception applies.
Can a plan administrator rely on an employee's representation for premiums?
Yes, unless they have actual knowledge to the contrary, the administrator may rely on written representation for non-employer/single employer contracts.
→ Check Instructions p.2 regarding reliance limitations.
Workflow map
Related forms and next steps
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⚠ If something goes wrong
- Penalties may be imposed if Copy A is filed and it cannot be scanned (see Part O of General Instructions).
Questions about IRS Form 1098Q
What is IRS Form 1098Q used for?
This form tells the IRS about an annuity contract that qualifies as a Qualified Longevity Annuity Contract (QLAC). It provides essential information so recipients know how their payments are structured and when they should expect them. The issuer uses Form 1098-Q to report these details annually.
Who must file IRS Form 1098Q?
Any person who issues a contract intended to be a QLAC that is purchased or held under any plan, annuity, account described in section 401(a), 403(a), 403(b), or 408 (other than a Roth IRA), or eligible governmental plan under section 457(b) must file Form 1098-Q.
What information does IRS Form 1098Q require?
The form collects details such as the Plan Number, Name of Plan, and Employer Identification Number (Box 1a/1b). It also records the Total Premiums paid (Box 3) and the Fair Market Value (FMV) of the QLAC (Box 4).
When is IRS Form 1098Q due?
The issuer must furnish a statement to the participant annually. For returns of premium payment, this must be paid no later than the end of the calendar year following the calendar year in which the employee dies.
Where do I file IRS Form 1098Q?
Filing instructions require using the general guidelines for Certain Information Returns; if filing electronically (e-file), options are available at IRS.gov/InfoReturn.
How do I complete IRS Form 1098Q?
First, complete the required identifying information for both the Issuer and Participant on the form. Next, fill in specific contract details like the Annuity Amount on Start Date (Box 1a) and Total Premiums (Box 3). Finally, ensure the appropriate boxes are checked and sign/date the form before sending it.
What happens if IRS Form 1098Q is filed incorrectly?
If an issuer files a copy of Form 1098-Q that cannot be scanned, a penalty may be imposed by the IRS.
Who must file Form 1098-Q?
Any person issuing a contract intended to be a QLAC must file this form. Confirm the contract was intended to be a QLAC upon issuance.
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