Tax withholdings

It's important to understand and plan your tax withholdings if you're receiving payments from a retirement account or an annuity.


 

Rules

Tax withholding rules by state

The type of account you have and where you live determine whether you need to withhold taxes from your payments.

Forms

Find Withholding Forms

The type of account you have and where you live determine whether you need to withhold taxes from your payments.

Common questions

There are 2 options:

  1. Print and mail in your completed form(s) with your withholding form. See TIAAs tax-related forms.
  2. Send in a signed and dated letter of instruction (LOI). Please provide your contract numbers and the dollar amount, or percentage, you want withheld from each payment.

TIAA cannot provide tax advice.

Please consult a tax advisor to discuss your withholding options and obligations. 

Tip: Don't wait until the end of the year, just in case you haven't withheld enough taxes throughout the year. each payment.

Visit the tax withholding pageOpens in a new window to get started. 

For annuity payments and one-time required minimum distributions (RMDs), visit your profile page and select tax withholding. 

For systematic withdrawals, visit status of loans/withdrawals  and look for withholding information under ongoing transactions. 

For ongoing Required Minimum Distribution (RMD) payments, tax information could be located in either your profile page or the status of loans/withdrawals page  depending on the type of payment established. 

A tax election may be taken over the phone in the event that you are electing to “opt out” of tax withholding. Call us at 800-842-2252, weekdays, 8 a.m.-10 p.m. (ET) or Saturday, 9 a.m.-6 p.m. (ET).

Yes. Voluntary elections can be made, and you can choose a flat dollar amount or a fixed percentage of the taxable portion of your payment. 

There are 2 ways to submit your instructions:

  1. Print and mail in your completed withholding form(s). See TIAAs tax-related forms.
  2. Send in a signed and dated letter of instruction (LOI). Please provide your contract numbers and the dollar amount, or percentage, you want withheld from each payment.

As a non-resident alien, your distribution might be subject to tax withholding based on the treaty rates between the U.S. and the country in which you reside. 

If a valid W-8BEN Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) form is not received, the payment will be taxed at a rate of 30%.

The residential address, and not your mailing address where communication is received, will dictate any applicable state taxes withheld. 

We'll continue to send mail to your mailing address, but it won't be used for taxation purposes.