Deferred Compensation Plan AccountsStatements and Tax Forms
Deferred Compensation Plan accounts are registered to the employer's Tax Identification Number, and account information, such as statements and tax forms, are mailed to the cooperative.
If your cooperative chooses to make participants aware of deferred compensation fund positions and account balances held on their behalf, you can instruct us to send a duplicate account statement directly to the participant. The Enrollment Form includes a section for you to provide a duplicate mailing address.
You'll receive IRS tax forms for the cooperative's deferred compensation plan in January. IRS Form 1099 DIV reports fund distributions (dividends and capital gains); Form 1099 B reports any redemptions made from the plan. Keep deferred compensation plan tax forms with your cooperative's other tax records. Do not distribute them to plan participants. Remember, deferred compensation accounts are owned by the employer and are therefore registered to the employer's Tax Identification Number, not the plan participant's Social Security Number.
