Can you explain to me why I don't have a tax form for my wealth accumulation account?

Would have to know more of what a “wealth accumulation thing” is for us to answer.

He’s a financial advisor, and so like he has this family company that helps people save money and it’s done through Guardian. So it’s like life insurance but it’s not an IRA because I don’t get penalized if I need to take money out.

Your friend is correct. Unless you are in a partnership of some sort, you don’t get a tax form for any savings plan unless you realize gains or have received income. If you are invested in stocks that did not pay a dividend, and you have not made any transaction in your account that have resulted in a capital gains, you don’t get a 1099.

By the way, is your account insured? Is he a registered broker dealer or registered insurance agent? Even if he is a friend, friends will come after family if he has to liquidate.

I would cautiously accept @zenvelo‘s take on this for now, but …

Although you didn’t ask for this advice, I’m going to give it to you anyway.

You should not be making investments in any kind of “program” or account that you don’t understand much better than you seem to understand this one.

You seem to understand a bit about it: that it’s all post-tax contribution, so that’s something. But is it “tax-advantaged” in the same way that an IRA or 401(k) is, in that you can make and take capital gains (in the account – no distribution to you) and not be liable for tax payment until withdrawal?

What are the stipulations for tax-advantaged withdrawals? With the IRA, for example, I know that I’m currently eligible – because of my age – to begin “normal” withdrawals. I also understand that I’ll have to pay “regular income tax” on normal withdrawals (and I also know that I must begin withdrawals by the time I turn 70, or I can be liable for extra tax again for failure to use the cash in the account).

But you need to know this stuff.

Assuming your account custodian is honest and ethical, he will not mind at all your asking for these details – and documentation. And you need to read that stuff! It’s when people don’t understand the kinds of accounts they have and the rules that govern them that they can get into trouble with inappropriate investments, shady practices by unscrupulous “advisers” and so forth. You need to know what you’re doing. A good custodian will want you to know.

What @CWOTUS outlined is why I asked my second questions. It is in your best interest and in your self protection to know these things before you turn your money over to someone to manage.

On another semi-related note, I’m wondering why my IRA with Oppenheimer through my job doesn’t have a tax form for 2015. They just never mailed me one and when I checked online it pretty much was like “Sometimes you don’t get one.” But I got one for the previous two years so I dunno what’s different about last year.

I’ve had IRAs – multiple ones, in fact – for over 30 years, and I’ve never gotten “tax forms” from them. Nor expected to. I can’t imagine why an IRA custodian would be sending you tax forms if you’re not taking distributions.

You really need to get into the rules that govern these things so you know what to expect. Your custodian will be happy to explain it to you (more likely point you to a webpage with the rules, and then ask if you have additional questions after you read that). The rules aren’t so difficult to understand for normal administration of an IRA, but there can certainly be times when things don’t go according to plan. Learn the rules.