Form 1098-Q: Longevity Annuity Contract Information
Published November 5, 2026
Some people buy a qualifying longevity annuity contract, often called a QLAC. This is a deferred annuity that starts paying at a later date. If you hold one, the issuer may send you a Form 1098-Q each year. The form reports the premiums paid and the contract's value.
This guide is general information. It is not advice about your own retirement plan or your return. If the form shows amounts you do not understand, contact the issuer or a tax professional.
Who files and who receives it
The issuer must file Form 1098-Q with the IRS. The issuer must also give a statement to the person in whose name the contract was bought. The IRS instructions say this statement is due each year, starting with the year the first premium is paid.
The form covers a QLAC bought or held under a plan, an annuity, or an account described in several parts of the tax code. Those include certain employer plans, Section 403 annuities, Section 408 accounts, and eligible governmental plans. The instructions say a Roth IRA is not included.
What each box shows
- Box 1a shows the annuity amount on the start date. If payments have not started, it is the periodic amount payable on that date.
- Box 1b shows the annuity start date. If payments have not started, it is the date the annuity is scheduled to begin.
- Box 2 is checked if the start date may be accelerated.
- Box 3 shows the total premiums paid for the contract through the end of the calendar year.
- Box 4 shows the fair market value of the QLAC as of the close of the calendar year.
- Boxes 5a to 5l show each premium payment and its date, one box for each month of the year.
If the contract was bought under a plan, the form also shows the plan name, the plan number, and the plan sponsor's employer identification number.
How the numbers change over time
Box 3 is a running total. It counts all premiums paid for the contract through the end of the calendar year, so it can increase in a year when more premiums are paid. Box 4 is the value as of the close of the calendar year, so it can rise or fall from one year to the next. Boxes 5a to 5l list each premium payment and its date, so you can match each payment to the month it was made.
Key terms
- Premium is an amount paid for the contract.
- Start date is when annuity payments begin, or are scheduled to begin.
- Fair market value is the value of the contract as of the close of the calendar year.
Check the form
- Keep the statement with your contract papers so you can compare it with future forms.
- Compare the premium amounts and dates in boxes 5a to 5l with your payment records.
- Check that box 3 equals the total of your premiums through the year end.
- Confirm the annuity start date and amount with the issuer's contract papers.
- Confirm your name and taxpayer number are correct.
If anything is wrong, ask the issuer for a corrected form. Write down the date you asked and what you were told.
Does it go on your return?
Form 1098-Q is an information form. It does not say how much tax you owe, and it does not, by itself, change your return. Whether any amount affects your return depends on the rest of your tax situation. Ask a tax professional before you enter anything based on this form.
Next steps
Keep the form with your retirement records. If you are also trying to understand other retirement reporting, read our guide to Form 1099-R retirement distributions. It explains a different form that reports payments from retirement accounts.
Sources: Sources: IRS, Form 1098-Q, Qualifying Longevity Annuity Contract Information (Rev. April 2025) (https://www.irs.gov/pub/irs-pdf/f1098q.pdf) and its Instructions for Form 1098-Q (Rev. April 2025) (https://www.irs.gov/pub/irs-pdf/i1098q.pdf) This is general information, not advice about your specific return.
