Free Nycers F351 Form

• IRS Form 1040: This is the standard individual income tax return form used to report personal income to the federal government. Like the F351, it requires reporting of income earned during the year.
• IRS Form W-2: Employers use this form to report wages paid to employees and the taxes withheld. The F351 also requires W-2 forms to verify income, making both documents essential for confirming earnings.
• IRS Form 1099: This form reports various types of income other than wages, salaries, and tips. Both the 1099 and F351 are used to report income that may affect eligibility for benefits.
• Social Security Administration (SSA) Form 1099: This form shows the total amount of Social Security benefits received. While the F351 excludes Social Security income, both documents relate to income verification for benefits.
• New York State IT-201: This is the New York State income tax return form. Similar to the F351, it is used to report income and determine tax obligations, which can impact benefit eligibility.
• New York State Form IT-2: This form provides information about wages and tax withheld for New York State tax purposes. Like the F351, it helps verify income for benefit eligibility.
• NYC Department of Finance Form RP-5217: This form is used for real property transfer reporting. Although it serves a different purpose, both documents involve reporting financial information to a governmental body.
• New York State Workers' Compensation Board Form C-3: This form is used to report injuries and claims for workers' compensation. While the F351 excludes this income, both documents deal with financial aspects related to employment.
• Medicare Income-Related Monthly Adjustment Amount (IRMAA) Notice: This notice informs individuals of their premium amounts based on income. Both documents relate to income assessment for benefits.

Completing the NYCERS F351 form can be straightforward, but many individuals make common mistakes that can lead to delays or complications in their benefits. One frequent error is failing to report all sources of Personal Service Income. Individuals sometimes overlook income from freelance work or part-time jobs, mistakenly believing that only full-time employment counts. It is essential to include all income earned during the year, excluding only the specified exceptions.

Another common mistake is neglecting to provide the required documentation. The form requests copies of Federal Tax Returns and W-2 forms, which must be submitted alongside the affidavit. Some retirees forget to include these documents or assume that they are not necessary if they did not file a tax return. However, even if no taxes were filed, W-2 forms must still be submitted if received.

Inaccuracies in personal information can also create significant issues. This includes errors in the pension number, Social Security number, or contact details. Such mistakes can lead to confusion and delays in processing the form. It is crucial to double-check all entries for accuracy before submission.

Lastly, failing to notarize the form is a mistake that can halt the entire process. The NYCERS F351 form must be signed in the presence of a Notary Public or Commissioner of Deeds. Some individuals may overlook this requirement, thinking that their signature alone suffices. Without notarization, the form will not be accepted, which could jeopardize the continuation of benefits.

1. What is the purpose of the NYCERS F351 form?

   The NYCERS F351 form is designed for Tier 3 and Tier 4 Disability Retirees. Its main purpose is to verify your eligibility for continued disability benefits by reporting any Personal Service Income received throughout the year. Failure to submit this form may result in the suspension of your retirement benefits.

2. Who needs to complete the F351 form?

   All Tier 3 and Tier 4 Disability Retirees must complete the F351 form annually. This includes anyone who has received disability benefits from NYCERS.

3. What is considered Personal Service Income?

   Personal Service Income includes any income earned from both public and private sectors, excluding certain types of income. Specifically, you do not need to report your NYCERS pension check, Social Security, Workers’ Compensation, or income from rental properties, stocks, bonds, IRAs, and bank interest.

4. What happens if I do not submit the F351 form?

   If NYCERS does not receive your completed F351 form and the required documents, your retirement benefits may be suspended until the necessary information is provided.

5. Do I need to submit tax documents with the F351 form?

   Yes, if you filed a Federal Income Tax Return for the year, you must include a copy of your tax return and your W-2 forms. If you filed jointly, include your spouse's W-2 forms as well. If you did not file taxes, you still need to submit any W-2 forms you received.

6. What should I do if I have no Personal Service Income?

   If you did not file a Federal Income Tax Return and have $0.00 in Personal Service Income, you must still complete the form and indicate this. Attach any W-2 forms you received, if applicable.

7. Is notarization required for the F351 form?

   Yes, the form must be signed and acknowledged before a Notary Public or Commissioner of Deeds. This is to verify the authenticity of the information provided.

8. What are the consequences of providing false information?

   Providing false statements or information on this form is a felony under New York State Penal Code. It can lead to a maximum of four years of imprisonment, and any suspected false documents will be reported to the New York City Department of Investigation.

Misconceptions about the NYCERS F351 form can lead to confusion for Tier 3 and Tier 4 Disability Retirees. Below are five common misconceptions along with clarifications.

• Misconception 1: The F351 form is optional for retirees.

This is incorrect. The F351 form must be completed annually by all Tier 3 and Tier 4 Disability Retirees to verify eligibility for continued disability benefits.

• Misconception 2: Only income from employment needs to be reported.

Retirees must report all Personal Service Income earned, excluding specific types of income such as pension checks, Social Security, and certain investment earnings.

• Misconception 3: If I do not have any income, I do not need to submit the form.

Even if there is no Personal Service Income to report, the form must still be submitted to confirm that no income was earned.

• Misconception 4: I can submit the form without any supporting documents.

Submission of the F351 form requires accompanying documents, such as a Federal Tax Return and W-2 forms, especially if taxes were filed.

• Misconception 5: There are no consequences for failing to submit the form.

Failure to submit the F351 form can lead to suspension of retirement benefits until the necessary information is received by NYCERS.

When filling out the NYCERS F351 form, it is essential to keep several key points in mind to ensure a smooth process. Below are important takeaways regarding the form's completion and use:

• Annual Requirement: All Tier 3 and Tier 4 Disability Retirees must complete this form each year to verify their eligibility for continued disability benefits.
• Personal Service Income Definition: Personal Service Income includes any income earned from public and private sectors, excluding specific types of income such as your NYCERS pension check, Social Security, and other defined sources.
• Consequences of Non-Submission: Failure to submit the F351 form and the required documents may result in the suspension of retirement benefits until the necessary information is provided.
• Tax Documentation: If a Federal Income Tax Return was filed for the year, a copy of the return and W-2 forms must be submitted. Joint filers need to include their spouse's W-2 forms as well.
• Notarization Requirement: The completed form must be signed and notarized. This step is crucial for validating the information provided.
• False Information Penalty: Providing false statements on this form is a serious offense under New York law, potentially resulting in felony charges.

By adhering to these guidelines, retirees can ensure that their benefits remain uninterrupted and that they comply with all necessary requirements.