Tax Forms

Notice: Annual Tax Reporting Forms

Wespath will mail the following 2024 Internal Revenue Service (IRS) tax reporting forms to participants no later than January 31, 2025. No reprint requests will be accepted prior to February 18, 2025 for the tax forms listed below:

• Form 1099-R—Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
• Form 1099-MISC—Miscellaneous Information
• Form W-2—Wage and Tax Statement (for disability payments)

The following tax reporting forms will also be mailed to participants on the dates noted:

• Form 480.7C—Informative Return—Retirement Plans and Annuities for Puerto Rico plans by February 28, 2025
• Form 1042-S—Foreign Person’s U.S. Source Income Subject to Withholding by March 17, 2025

A copy of the tax documents sent to you via mail will be available online at benefitsaccess.org after the mailing dates noted above. After logging in, from the Retirement page, select Accounts > Tax Forms.

Form 480.7C will not be available online and will be sent via U.S. Mail.

Participants who cannot access their tax forms online can contact Wespath at 1-800-851-2201 for an additional copy. Please allow two weeks for mail delivery.

• IRS Form W-4P
• IRS Form W-4R
• IRS Form W-7
• IRS Form W-8BEN
• Special Tax Notice Regarding Distributions
• State Income Tax Withholding Form
• Puerto Rico Administrative Summary
• Tax Notice Regarding Distributions—Puerto Rico
• Important Information Regarding Puerto Rico Regulation No. 8049 and Impact on Retirement Distributions

IRS Form W-4P (Withholding Certificate for Periodic Pension or Annuity Payments)

For U.S. citizens, resident aliens or estates receiving pensions and annuities.

This form notifies Wespath of the federal income tax amount you elect to withhold from benefit payments. To revoke or change your withholding elections, complete a new IRS Form W-4P in Benefits Access if you are currently receiving benefit payments expected to last at least 10 years, or are being paid over your life expectancy.

IRS Form W-4R (Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions)

For U.S. citizens, resident aliens or estates receiving term annuities for periods less than 10 years, cash installment payments for periods less than 10 years, partial distributions, or lump-sum distributions.

This form notifies Wespath of the federal income tax amount you elect to withhold from nonperiodic and eligible rollover payments. To revoke or change your withholding elections, complete a new IRS Form W-4R in Benefits Access if you are currently receiving benefit payments for periods less than 10 years, or plan to take partial or lump-sum distributions.

IRS Form W-7

For nonresident aliens receiving pensions and annuities

Apply for an Internal Revenue Service (IRS) Individual Taxpayer Identification Number (ITIN) using this form. An ITIN is a nine-digit number issued to nonresident aliens who are not eligible for a U.S. Social Security number. The ITIN is required to claim tax treaty benefits for a reduced rate of—or an exemption from—U.S. federal tax withholding on pension or annuity payments.

Instructions for how to complete Form W-7 are available on the IRS website.

IRS Form W-8BEN

Establishes that you are not a U.S. resident

Report your ITIN to Wespath or claim a reduced rate of—or an exemption from—U.S. federal income tax withholding on pension or annuity payments if you are a qualified applicant who resides in a non-U.S. country with which the United States has an income tax treaty.

Instructions for how to complete Form W-8BEN are available on the IRS website.

Special Tax Notice Regarding Distributions

Wespath is required to provide this notice if you receive a rollover-eligible distribution from a Wespath-administered retirement plan. It explains the rules for direct rollovers and mandatory income tax withholding on distributions that are not directly rolled over. (A "rollover" is a distribution of all or part of a benefit, either paid directly to another plan [or IRA] or indirectly to you). Consider this important information when deciding how to receive a retirement plan distribution.

State Income Tax Withholding Form

Elect the amount of state tax that is to be withheld from your benefit payments. Submit a new State Income Tax Withholding Form to Wespath to change your state income tax withholding election.

Puerto Rico Administrative Summary

Learn the administrative requirements relating to distributions from the PRCRSP and the PRPIP. This summary complements the more detailed summary plan description (SPD) for each plan.

Tax Notice Regarding Distributions—Puerto Rico

Wespath sends this notice to residents of Puerto Rico to provide information on rollover-eligible distributions as well as other general information regarding distributions.

Important Information Regarding Puerto Rico Regulation No. 8049 and Impact on Retirement Distributions

Wespath sends this notice to residents of Puerto Rico to provide further details regarding the taxation of distributions.

Note: the IRS Form W-4P, State Income Tax Withholding Form and the Special Tax Notice Regarding Distributions do not apply to residents of Puerto Rico.