Withholding Notices
If you have an annuity receiving regularly scheduled payouts or are required to take IRS Required Minimum Distributions, you have likely noticed that you are receiving correspondence from Catholic Life Insurance providing an opportunity to update your withholding election on IRS Form W-4R or IRS Form W-4P annually or semi-annually. The IRS requires that we provide this opportunity to members taking money from their annuity on a specific schedule. To satisfy this requirement, CLI sends out letters and forms in January and/or July of each year (depending on the specific annuity’s requirements).
|
RMD Letter & Form |
January Withholding Notice |
July Annual Verification / Withholding Notice |
July Withholding Notice |
ATF & IRS Form W-4R |
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|
Monthly Payout |
X |
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|
Quarterly Payout |
X |
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|
Semi-Annual Payout |
X |
X |
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|
Annual Payout |
X |
X |
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|
RMD Withdrawals / Payouts |
X |
X |
|||
|
Unscheduled / |
X |
Note: If you are not set up for a payout or required to take an RMD, you will not receive these annual or semi-annual mailings. In this case, the IRS Form W-4R or IRS Form W-4P (as applicable) will be sent to you at the time you request a withdrawal, begin a payout, or are first required to take an RMD.
