We report a rare example of a Cr-N-2 complex supported by a 16-membered phosphorus macrocycle containing pendant amine bases. Reactivity with acid afforded hydrazinium and ammonium, representing the first example of N-2 reduction by a Cr-N-2 complex. Computational analysis examined the thermodynamically favored protonation steps of N-2 reduction with Cr leading to the formation of hydrazine.