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Almost everyone receives one: the annual statement. But what exactly is an annual statement, and when does it matter to you? In this blog, we'll take a closer look at annual statements: where you can find yours, how to request it, and when you'll need this document at your disposal.
What is an annual statement?
An annual statement, also known as an annual overview or fiscal annual summary, is a document that provides a breakdown of the income you've received and the taxes and contributions that have been deducted throughout the calendar year. Employers, benefits agencies, and pension funds provide this document to their employees and benefit recipients.
Tip: In the Nmbrs app, you can keep all your important HR matters at your fingertips in one simple overview.
Where can I find my annual statement?
Perhaps you've been searching for a while and simply can't work it out. In that case, the obvious question is: where can I find my annual statement? Finding your annual statement is generally a straightforward process. There are several ways to obtain your annual statement:
- Through your employer: The annual statement is usually provided automatically by your employer. You'll typically receive it in January or February of the following year.
- Through a benefits agency: Benefits agencies often send the annual statement by post or make it available through an online portal such as My UWV.
- Through your pension fund: If you're receiving a pension, the annual statement is provided by your pension fund. This usually happens in January or February.
- Through the Tax Office: If you've lost your annual statement and can't obtain it again from the original source, you can contact the Tax Office. They may be able to help you obtain the information you need.
What do you need your annual statement for?
The annual statement is an important document with various applications:
- Tax return: One of the main reasons to keep your annual statement is for completing your income tax return. The document contains all the relevant information needed for an accurate tax calculation.
- Mortgage application: When applying for a mortgage, the lender may ask for your annual statement. This gives them insight into your financial situation and helps them assess your mortgage application.
- Applying for benefits: If you want to qualify for benefits, such as healthcare allowance or housing benefit, you may need to submit your annual statement as proof of your income.
- Pension planning: The annual statement provides an overview of your pension contributions and can be useful when planning your financial future and retirement.
Now that you know where to find your annual statement and what you need it for, you'll understand that this is a crucial document for various financial purposes. Make sure you keep this document somewhere logical and secure. The Nmbrs app is one such place, where you can have your annual statement readily available whenever you need it.
