My employer is paying my health premiums and matching retirement contributions. Are these taxable benefits?

Question

If they are taxable benefits, is there a form to fill out for this when I submit my taxes?

Answer 1

No, the health insurance is a statutory non-taxable benefit. The retirement contribution is a tax-deferred benefit. Assuming the retirement contribuion is into a 401-K and not a new 401-K-Roth. It is not currently taxable. It will be taxable when you take the money out of the retirement account

If the retirement contribution is indeed into a 401-K-Roth you needn't worry about how to handle the tax situation. It will be reported on your annual W-2 form.

I hope this helps.

Answer 2

RunningUte is right except that an employer cannot put matching contributions into a Roth 401k. If you do have a Roth 401k (unlikely but possible), then your employer match contributions need to be deposited into a separate regular 401k and those contributions would not be taxable to you when deposited.

Answer 3

These are non taxable, but remember if any insurance or pension plan that is not tax deductable, it is taxable if you getting any payout in the future.

(Except for NON deductabe IRA)