Form W-4p - Withholding Certificate For Pension Or Annuity Payments - 2013 Page 3
Download a blank fillable Form W-4p - Withholding Certificate For Pension Or Annuity Payments - 2013 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form W-4p - Withholding Certificate For Pension Or Annuity Payments - 2013 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
43
Form W-4P (2013)
Page
Additional Instructions
Caution. There are penalties for not paying enough federal
income tax during the year, either through withholding or
Section references are to the Internal Revenue Code.
estimated tax payments. New retirees, especially, should see
Pub. 505. It explains your estimated tax requirements and
When should I complete the form? Complete Form W-4P and
describes penalties in detail. You may be able to avoid quarterly
give it to the payer as soon as possible. Get Pub. 505, Tax
estimated tax payments by having enough tax withheld from
Withholding and Estimated Tax, to see how the dollar amount
your pension or annuity using Form W-4P.
you are having withheld compares to your projected total
federal income tax for 2013. You also may use the IRS
Periodic payments. Withholding from periodic payments of a
Withholding Calculator at for help in
pension or annuity is figured in the same manner as withholding
determining how many withholding allowances to claim on your
from wages. Periodic payments are made in installments at
Form W-4P.
regular intervals over a period of more than 1 year. They may be
paid annually, quarterly, monthly, etc.
Multiple pensions/more-than-one income. To figure the
number of allowances that you may claim, combine allowances
If you want federal income tax to be withheld, you must
and income subject to withholding from all sources on one
designate the number of withholding allowances on line 2 of
worksheet. You may file a Form W-4P with each pension payer,
Form W-4P and indicate your marital status by checking the
but do not claim the same allowances more than once. Your
appropriate box. Under current law, you cannot designate a
withholding usually will be most accurate when all allowances
specific dollar amount to be withheld. However, you can
are claimed on the Form W-4P for the highest source of income
designate an additional amount to be withheld on line 3.
subject to withholding and zero allowances are claimed on the
If you do not want any federal income tax withheld from your
others.
periodic payments, check the box on line 1 of Form W-4P and
Other income. If you have a large amount of income from other
submit the form to your payer. However, see Payments to
sources not subject to withholding (such as interest, dividends,
Foreign Persons and Payments Outside the United States on
or capital gains), consider making estimated tax payments using
page 4.
Form 1040-ES, Estimated Tax for Individuals. Call
Caution. If you do not submit Form W-4P to your payer, the
1-800-TAX-FORM (1-800-829-3676) to get Form 1040-ES and
payer must withhold on periodic payments as if you are married
Pub. 505. You also can get forms and publications at
claiming three withholding allowances. Generally, this means
that tax will be withheld if your pension or annuity is at least
If you have income from wages, see Pub. 505 to find out if
$1,680 a month.
you should adjust your withholding on Form W-4 or Form W-4P.
If you submit a Form W-4P that does not contain your correct
Note. Social security and railroad retirement payments may be
social security number (SSN), the payer must withhold as if you
includible in income. See Form W-4V, Voluntary Withholding
are single claiming zero withholding allowances even if you
Request, for information on voluntary withholding from these
checked the box on line 1 to have no federal income tax
payments.
withheld.
Withholding From Pensions and Annuities
There are some kinds of periodic payments for which you
cannot use Form W-4P because they are already defined as
Generally, federal income tax withholding applies to the taxable
wages subject to federal income tax withholding. These
part of payments made from pension, profit-sharing, stock
payments include retirement pay for service in the U.S. Armed
bonus, annuity, and certain deferred compensation plans; from
Forces and payments from certain nonqualified deferred
individual retirement arrangements (IRAs); and from commercial
compensation plans and deferred compensation plans
annuities. The method and rate of withholding depend on (a) the
described in section 457 of tax-exempt organizations. Your
kind of payment you receive; (b) whether the payments are
payer should be able to tell you whether Form W-4P applies.
delivered outside the United States or its commonwealths and
For periodic payments, your Form W-4P stays in effect until
possessions; and (c) whether the recipient is a nonresident alien
you change or revoke it. Your payer must notify you each year
individual, a nonresident alien beneficiary, or a foreign estate.
of your right to choose not to have federal income tax withheld
Qualified distributions from a Roth IRA are nontaxable and,
(if permitted) or to change your choice.
therefore, not subject to withholding. See page 4 for special
withholding rules that apply to payments outside the United
Nonperiodic payments—10% withholding. Your payer must
States and payments to foreign persons.
withhold at a flat 10% rate from nonperiodic payments (but see
Eligible rollover distribution—20% withholding on page 4)
Because your tax situation may change from year to year, you
unless you choose not to have federal income tax withheld.
may want to refigure your withholding each year. You can
Distributions from an IRA that are payable on demand are
change the amount to be withheld by using lines 2 and 3 of
treated as nonperiodic payments. You can choose not to have
Form W-4P.
federal income tax withheld from a nonperiodic payment (if
Choosing not to have income tax withheld. You (or in the
permitted) by submitting Form W-4P (containing your correct
event of death, your beneficiary or estate) can choose not to
SSN) to your payer and checking the box on line 1. Generally,
have federal income tax withheld from your payments by using
your choice not to have federal income tax withheld will apply to
line 1 of Form W-4P. For an estate, the election to have no
any later payment from the same plan. You cannot use line 2 for
income tax withheld may be made by the executor or personal
nonperiodic payments. But you may use line 3 to specify an
representative of the decedent. Enter the estate’s employer
additional amount that you want withheld.
identification number (EIN) in the area reserved for “Your social
Caution. If you submit a Form W-4P that does not contain your
security number” on Form W-4P.
correct SSN, the payer cannot honor your request not to have
You may not make this choice for eligible rollover
income tax withheld and must withhold 10% of the payment for
distributions. See Eligible rollover distribution—20%
federal income tax.
withholding on page 4.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial