1. Help Center
  2. Frequently Asked Questions

Top Tax Questions

It is a pleasure to serve you by providing the following information. This page provides answers to several frequently asked questions regarding taxes for qualified and non-qualified accounts:

How do I know if I should have a 1099 form?

If there has been a distribution or a loan default on your account during the tax year, you will receive a 1099 form.

When will my 1099 forms be sent to me?

Forms 1099R were generally mailed within 2 weeks of your distribution or loan default. They also could have been mailed towards the end of January.

Will I get any tax documents regarding my contributions into my 403(b) for the year? 

If you are making contributions into your retirement account, you should see this on your W2 from your organization. You will not receive any separate tax documents regarding your contributions into your qualified retirement account. You may qualify  to make additional tax deductible contributions to an Envoy Choice IRA. You have until April 15, 2017 to contribute up to $5,500 ($6,500 if you are over age 50). This is an addition to what you contributed to your 403 (b) or 401(k) last year. 

Contact your Service Team at (888) 879-1376 or by email to open an IRA.

Will I get a 1099 form if I defaulted on my loan?

Once the loan is in default, it is considered a distribution. You will be liable and responsible for taxes and penalties on the outstanding loan balance at tax time. You should receive a form 1099R within a few weeks of the loan default indicating the taxable amount.

What are the different 1099 forms?


There are several different types of 1099 forms. Below, you will find definitions for the most common 1099 forms someone could receive at tax time.

  • 1099-DIV: The 1099-DIV reports taxable dividends or capital gains paid during the year.
  • 1099-B: The 1099-B reports the total dollar amount of proceeds you received from each sale or exchange of fund shares (except money market funds). You will need the information on your Form 1099-B and possibly your year-end statement(s) to calculate your capital gain or loss.
  • 1099-R: The 1099-R reports total and partial distributions from the retirement accounts, including housing allowance.

Will the 1099 and other tax documents come from Envoy Financial?

No, tax documents will come from the Custodian of your account (i.e.: Matrix Trust Company).

What if I have questions about my taxes?

Please consult your tax advisor for answers to questions about your individual tax situation. They will be able to assist you with your individual tax questions.

How can I request the tax information my CPA needs?

You should receive the tax information you need by mail by January 31st.

Can I reduce my taxes for last year?

Yes, by contributing to an Envoy Choice IRA. You have until April 17, 2018 to contribute up to $5,500 and an additional $1,000 if you are 50 years or older to an Envoy Choice IRA. This is in addition to what you contributed to your 403(b) or 401(k) last year. 

Contact our Service Team at (888) 879-1376 or by email to open an IRA.

How do I get a copy of my 1099?

Emailparticipant@envoyfinancial.comto request your copy.

How do we qualify for tax-exempt status?

Churches that meet the requirements of IRC Section 501(c)(3) are automatically considered tax exempt and are not required to obtain recognition of tax-exempt status. 

Many churches seek recognition of tax-exempt status from the IRS because this recognition assures contributors that the church is recognized as exempt.”The IRS explains the requirements: “To qualify for tax-exempt status, the organization must: be organized and operated exclusively for religious purposes; net earnings may not inure to the benefit of any private individual; no substantial part of its activity may be attempting to influence legislation; the organization may not intervene in political campaigns; and the purposes and activities may not be illegal or violate fundamental public policy.