Following an abrupt teaser last week, Justin Timberlake announced early Monday the release of his new single "Suit & Tie" featuring Jay-Z and a new album to follow. And it's exactly as we first reported on Saturday. The song was written by Timberlake, Timbaland, Shawn Carter, Jerome “J-ROC” Harmon and James Flauntleroy and produced by Timbaland, Justin Timberlake and Jerome “J-ROC” Harmon. The song is the first release off Timberlake’s forthcoming album, The 20/20 Experience, due out this year on RCA Records. "Suit & Tie" is available now via iTunes.

Of the new album, he said it was not planned and it happened unexpectedly. "The inspiration for this really came out of the blue and to be honest, I didn't expect anything out of it. I just went into the studio and started playing around with some sounds and songs. It was probably the best time I've had in my career... Just creating with no rules and/or end goal in mind and really enjoying the process."

Rumors of Justin Timberlake's return to the music scene had been swirling for months, although the singer-turned-actor has frequently extinguished any further musical aspirations, claiming (and rightfully so) that it is very demanding. We had previously learned that JT was also said to be in the studio with Jay-Z and his wife Beyoncé. In a teaser video released Thursday, Timberlake confirmed he was "ready" to return to music.

Following Timberlake's announcement, producer Timbaland tweeted: "i told y'all the storm is coming this year." The duo is said to have produced about 20 tracks together.

Timberlake's last studio effort, the enduring sophomore effort FutureSex/LoveSounds, came out in 2006 and has been certified four-times platinum, with U.S. sales of over 4 million units. Since then, the singer-actor has been featured on other artists' work—including music by Madonna, T.I., 50 Cent and others—but he has not released new music of his own.

With appearances on Saturday Night Live, the six-time Grammy award winner has also showcased his comedic chops, even nabbing four Emmy awards for his television work. He has been a part of multiple blockbuster film successes with The Social Network, Friends With Benefits, Bad Teacher and voicing characters in the animated Shrek the Third. Timberlake also married actress Jessica Biel last October.

Timberlake's new music is available via RCA.