However, you may wish to file an income tax return to receive a tax refund if too much tax was withheld from these payments. Federal income tax return if: (1) your entire tax liability was fulfilled by withholding of tax on benefits (2) your only income from sources within the United States was not connected to a trade or business and (3) the correct amount of tax for the correct period was withheld from your annuity payments. Taxes should have been withheld from your railroad retirement benefit payments made in the tax year indicated on your tax statement(s), unless you were exempt under a tax treaty between the United States and your country of legal residence. Virgin Islands, Puerto Rico, or the Northern Mariana Islands. A nonresident alien is an individual who is neither a citizen nor resident of the United States, Guam, the U.S. Our records indicate that you are a nonresident alien of the United States. Contact SSA, not the RRB, if you need Form SSA-1042S and Notice 703. NOTE: You should have received Form SSA-1042S and Notice 703 from the Social Security Administration (SSA) if you also received social security benefits for the tax year indicated on the Form RRB-1042S. To determine your taxable amount, follow the instructions for Form 1040 and/or Form 1040A booklet(s), and/or IRS Publication 939, General Rule for Pensions and Annuities. For more information about these payments, refer to IRS Publication 575, Pension and Annuity Income. The NSSEB, Tier 2, VDB and supplemental annuity payments, repayments and tax withholding amounts are shown on Form RRB-1042S. The NSSEB portion of Tier 1, Tier 2, VDB and supplemental annuity are the pension annuity components of the railroad retirement annuity. They are taxed as contributory pension amounts or noncontributory pension amounts.
The NSSEB portion of Tier 1, Tier 2, Vested Dual Benefit and supplemental annuity payments are treated as private pensions for U.S. For information about SSEB benefits and Form RRB-1042S, get IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits. These certain payments and repayments include Tier 1, Tier 2 and vested dual benefits paid for a period before December 1983 Tier 2 and vested dual benefits repaid for a period before December 1983 separation allowance lump-sum amounts residual lump-sum amounts lump-sum death payments and Railroad Retirement Act tax refunds. Certain payments and repayments are not taxable and are not reported on your tax statements. A repayment is a returned payments, a cash refund, or an amount withheld from your annuity to recover an overpayment. This is true whether adjustments result in net amounts due or net overpayments which you are asked to repay, and whether any overpayments are recovered or waived. Payments and repayments resulting from railroad retirement annuity adjustments are shown on your tax statements, and may be fully or partially subject to taxation. The SSEB payments are similar to social security benefits for U.S. If the mailing address shown is incorrect or incomplete, please provide the RRB with your correct mailing address.įorm RRB-1042S reports the Social Security Equivalent Benefit (SSEB) portion, Non-Social Security Equivalent Benefit (NSSEB) portion of Tier 1, Tier 2, Vested Dual Benefit (VDB), supplemental annuity payments and special guaranty benefits paid and repaid to nonresident aliens of the United States, and the related U.S. The mailing address shown on Form RRB-1042S is the address we currently have on our records.
An explanation of the items on Form RRB-1042S are on the back of this form. You will need to determine if any of the railroad retirement payments made to you are taxable. Railroad Retirement Board (RRB) and represents payments made to you in the tax year indicated on the statement. The Form RRB-1042S tax statement enclosed is issued by the U.S. Explanation of items on Form RRB-1042S are on the back of this explanation sheet.
The Form RRB-1042S tax statement is issued by the U.S.
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