Iowa Form W-4p - Withholding Certificate For Pension Or Annuity Payments - 2015
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1Iowa Department of Revenue
2015 IA W-4P
Withholding Certificate for Pension or Annuity Payments
Name: _________________________________________________ SSN: _________________________
Address: ______________________________________________________________________________
City: _____________________________________ State: ____________________ ZIP: ______________
Are you an Iowa resident? ............................................................................................
Yes
No
Iowa income tax is withheld only for Iowa residents.
I choose not to have income tax withheld from my pension/annuity .......................................................
NOTE: If you are an Iowa resident and the taxable portion of your annual distribution is greater
than $6,000 ($12,000 married Iowa filers), Iowa tax must be withheld if federal tax is being withheld
unless you qualify for the low income exemption described in the instructions below.
I choose to have Iowa income tax withheld from my pension/annuity at a rate of 5% (or based on the
published withholding formulas if the payer so chooses). Select one of the following:
• claiming no exemption (see instructions) ...........................................................................................
• exempting $6,000 in benefits each year ...........................................................................................
• exempting $12,000 in benefits each year (married – status 2, 3, or 4 – Iowa filers only) ................
.00
Additional amount, if any, to be withheld from each benefit payment (whole dollars): $ ______________
See instructions for eligibility requirements.
Signature: __________________________________________________________ Date:
Instructions
Low Income Exemption From Tax
Eligibility Requirements
Taxpayers 65 years of age or older: You are exempt if (1)
Military retirement pay is fully exempt from Iowa income tax
You are single and your income is $24,000 or less, or (2) Your
and withholding. A partial exemption is provided to qualified
filing status is other than single and the total income of both
Iowa residents receiving pensions, annuities, self-employed
spouses is $32,000 or less. Note: The amount of any pension
retirement benefits, deferred compensation, IRA distribution, or
exclusion and any Social Security Phase-out exclusion must be
other retirement benefits. To qualify you must be 55 years of age
added back to income for purposes of determining the low
or older, disabled or a surviving spouse or other survivor of an
income exemption. Only one spouse must be 65 or older to
individual who would have qualified for the exclusion in the tax
qualify for the exemption.
year. To be considered disabled you must be receiving the
retirement income on the basis of a documented disability or
Taxpayers under 65: You are exempt if (1) Your net income is
you must meet federal or state criteria for disability. Federal Civil
less than $5,000 and you are claimed as a dependent on another
Service annuitants who want Iowa tax withheld from federal
person’s Iowa return; or (2) You are single and your net income
pensions should call the Office of Personnel Management toll-
is $9,000 or less and you are not claimed as a dependent on
free at 1-888-767-6738 or e-mail retire@opm.gov.
another person’s Iowa return; or (3) Your filing status is other
than single and your combined net income is $13,500 or less.
Withholding Choices
An Iowa resident may choose to have Iowa tax withheld on the
Claiming No Exemption
annual taxable amount, exempting $6,000. Married taxpayers
If this box is checked, Iowa income tax will be withheld on the
may exclude up to $12,000 from the annual taxable amount.
entire amount of taxable benefits received.
Only the pension income of the spouse who meets the
Withholding Rates
eligibility requirements can be excluded. If no choice is
Payers have the option of withholding at the rate of 5% or using
made, you will automatically be given a $6,000 exemption. If
the published withholding formulas or withholding tables.
you are receiving retirement income from more than one
source, you are still entitled to claim only a maximum $6,000/
$12,000 exemption. The annual taxable amount excludes military
retirement pay.
Where To Send The IA W-4P
Return the completed form to the person who handles your pension/retirement check, or, if planning to retire, your current payroll
44-020
(10/27/14)
officer. If you are a federal employee, return it to the Office of Personnel Management.
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