Form W-4p - Withholding Certificate For Pension Or Annuity Payments - 2016 Page 4
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Form W-4P (2016)
Page
Statement of Federal Income Tax Withheld
Eligible rollover distribution—20% withholding. Distributions
you receive from qualified pension or annuity plans (for
From Your Pension or Annuity
example, 401(k) pension plans and section 457(b) plans
By January 31 of next year, your payer will furnish a statement
maintained by a governmental employer) or tax-sheltered
to you on Form 1099-R, Distributions From Pensions, Annuities,
annuities that are eligible to be rolled over tax free to an IRA or
Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts,
qualified plan are subject to a flat 20% federal withholding rate.
etc., showing the total amount of your pension or annuity
The 20% withholding rate is required, and you cannot choose
payments and the total federal income tax withheld during the
not to have income tax withheld from eligible rollover
year. If you are a foreign person who has provided your payer
distributions. Do not give Form W-4P to your payer unless you
with Form W-8BEN, your payer instead will furnish a statement
want an additional amount withheld. Then, complete line 3 of
to you on Form 1042-S, Foreign Person’s U.S. Source Income
Form W-4P and submit the form to your payer.
Subject to Withholding, by March 15 of next year.
Note: The payer will not withhold federal income tax if the entire
distribution is transferred by the plan administrator in a direct
Privacy Act and Paperwork Reduction Act
rollover to a traditional IRA or another eligible retirement plan (if
Notice
allowed by the plan), such as a qualified pension plan,
governmental section 457(b) plan, section 403(b) contract, or
We ask for the information on this form to carry out the Internal
tax-sheltered annuity.
Revenue laws of the United States. You are required to provide
Distributions that are (a) required by law, (b) one of a specified
this information only if you want to (a) request federal income
series of equal payments, or (c) qualifying “hardship”
tax withholding from periodic pension or annuity payments
distributions are not “eligible rollover distributions” and are not
based on your withholding allowances and marital status,
subject to the mandatory 20% federal income tax withholding.
(b) request additional federal income tax withholding from your
See Pub. 505 for details. See also Nonperiodic payments—10%
pension or annuity, (c) choose not to have federal income tax
withholding on page 3.
withheld, when permitted, or (d) change or revoke a previous
Tax relief for victims of terrorist attacks. For tax years ending
Form W-4P. To do any of the aforementioned, you are required
after September 10, 2001, disability payments for injuries
by sections 3405(e) and 6109 and their regulations to provide
incurred as a direct result of a terrorist attack directed against
the information requested on this form. Failure to provide this
the United States (or its allies), whether outside or within the
information may result in inaccurate withholding on your
United States, are not included in income. You may check the
payment(s). Providing false or fraudulent information may
box on line 1 of Form W-4P and submit the form to your payer
subject you to penalties.
to have no federal income tax withheld from these disability
Routine uses of this information include giving it to the
payments. However, you must include in your income any
Department of Justice for civil and criminal litigation, and to
amounts that you received or you would have received in
cities, states, the District of Columbia, and U.S. commonwealths
retirement had you not become disabled as a result of a terrorist
and possessions for use in administering their tax laws. We may
attack. See Pub. 3920, Tax Relief for Victims of Terrorist
also disclose this information to other countries under a tax
Attacks, for more details.
treaty, to federal and state agencies to enforce federal nontax
criminal laws, or to federal law enforcement and intelligence
Changing Your “No Withholding” Choice
agencies to combat terrorism.
Periodic payments. If you previously chose not to have federal
You are not required to provide the information requested on
income tax withheld and you now want withholding, complete
a form that is subject to the Paperwork Reduction Act unless
another Form W-4P and submit it to your payer. If you want
the form displays a valid OMB control number. Books or
federal income tax withheld at the rate set by law (married with
records relating to a form or its instructions must be retained as
three allowances), write “Revoked” next to the checkbox on
long as their contents may become material in the
line 1 of the form. If you want tax withheld at any different rate,
administration of any Internal Revenue law. Generally, tax
complete line 2 on the form.
returns and return information are confidential, as required by
Nonperiodic payments. If you previously chose not to have
section 6103.
federal income tax withheld and you now want withholding,
The average time and expenses required to complete and file
write “Revoked” next to the checkbox on line 1 and submit
this form will vary depending on individual circumstances. For
Form W-4P to your payer.
estimated averages, see the instructions for your income tax
Payments to Foreign Persons and Payments
return.
Outside the United States
If you have suggestions for making this form simpler, we
would be happy to hear from you. See the instructions for your
Unless you are a nonresident alien, withholding (in the manner
income tax return.
described above) is required on any periodic or nonperiodic
payments that are delivered to you outside the United States or
its possessions. You cannot choose not to have federal income
tax withheld on line 1 of Form W-4P. See Pub. 505 for details.
In the absence of a tax treaty exemption, nonresident aliens,
nonresident alien beneficiaries, and foreign estates generally are
subject to a 30% federal withholding tax under section 1441 on
the taxable portion of a periodic or nonperiodic pension or
annuity payment that is from U.S. sources. However, most tax
treaties provide that private pensions and annuities are exempt
from withholding and tax. Also, payments from certain pension
plans are exempt from withholding even if no tax treaty applies.
See Pub. 515, Withholding of Tax on Nonresident Aliens and
Foreign Entities, and Pub. 519, U.S. Tax Guide for Aliens, for
details. A foreign person should submit Form W-8BEN,
Certificate of Foreign Status of Beneficial Owner for
United States Tax Withholding, to the payer before receiving any
payments. The Form W-8BEN must contain the foreign person’s
taxpayer identification number (TIN).
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