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Employee
February 23, 2025
Question

1099R follow up question - is this a Qualifed or Non-qualifed Plan

  • February 23, 2025
  • 1 reply
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The 1099-R is from John Hancock Life Insurance Co.  Box 7 is Code 7 and the IRA/SEP/SIMPLE box is blank

 

1 reply

February 23, 2025

It is probably NONQUALIFIED.  A qualified plan is a retirement plan through an employer or an IRA.  Most life insurance plans are nonqualified annuities.