Shareholders Receive
1099s for Tax Purposes
Each CIRI shareholder will receive a 2002 IRS Form 1099 from CIRI. These forms were mailed on Jan. 31, 2003. Some shareholders may receive more than one type of Form 1099. These forms reflect all payments made to shareholders by CIRI in calendar year 2002, including quarterly dividends, the Christmas distribution, as well as interest, 7(j) payments, prizes, and elders’ distributions.
In 2002, CIRI paid a total of $28.00 per share (or $2,800 per 100 shares) in quarterly dividends to shareholders. CIRI also paid a Christmas distribution in the amount of $3.00 per share (or $300 per 100 shares). These distributions represent taxable income, and they are shown in Box 1 - Ordinary Dividends, on your CIRI Form 1099-DIV.
At-large shareholders also received 95 cents per share (or $95.60 per 100 shares) in a 7(j) resource revenue payment. If you are an at-large shareholder, your 7(j) payment appears in Box 3 - Other Income of your CIRI Form 1099-MISC. The resource revenue payment is a sharing of resource revenues among the 12 regional corporations as required by the Alaska Native Claims Settlement Act. Resource revenue payments are not dividends, and are not considered investment income. Resource revenue payments for village shareholders are paid directly to their village corporation; therefore, CIRI does not report these amounts as income to the shareholder.
Payments made during 2002 to shareholders for prizes or awards and/or elders’ distributions will also be reported by CIRI on a Form 1099-MISC in Box 3 - Other Income. In addition, shareholders who may have received interest payments from CIRI last year will receive a Form 1099-INT. The amount of interest paid will appear in Box 1 - Interest Income.
CIRI cannot provide tax advice, and shareholders are encouraged to consult with a tax advisor regarding their individual circumstances and applicable federal and state tax requirements. If you use a tax preparer, please share this information with him or her. If you have further questions, please contact the Shareholder Relations Department at (907) 274-8638 or toll-free at 1-800-764-2474.
Each CIRI shareholder will receive a 2002 IRS Form 1099 from CIRI. These forms were mailed on Jan. 31, 2003. Some shareholders may receive more than one type of Form 1099. These forms reflect all payments made to shareholders by CIRI in calendar year 2002, including quarterly dividends, the Christmas distribution, as well as interest, 7(j) payments, prizes, and elders’ distributions.
In 2002, CIRI paid a total of $28.00 per share (or $2,800 per 100 shares) in quarterly dividends to shareholders. CIRI also paid a Christmas distribution in the amount of $3.00 per share (or $300 per 100 shares). These distributions represent taxable income, and they are shown in Box 1 - Ordinary Dividends, on your CIRI Form 1099-DIV.
At-large shareholders also received 95 cents per share (or $95.60 per 100 shares) in a 7(j) resource revenue payment. If you are an at-large shareholder, your 7(j) payment appears in Box 3 - Other Income of your CIRI Form 1099-MISC. The resource revenue payment is a sharing of resource revenues among the 12 regional corporations as required by the Alaska Native Claims Settlement Act. Resource revenue payments are not dividends, and are not considered investment income. Resource revenue payments for village shareholders are paid directly to their village corporation; therefore, CIRI does not report these amounts as income to the shareholder.
Payments made during 2002 to shareholders for prizes or awards and/or elders’ distributions will also be reported by CIRI on a Form 1099-MISC in Box 3 - Other Income. In addition, shareholders who may have received interest payments from CIRI last year will receive a Form 1099-INT. The amount of interest paid will appear in Box 1 - Interest Income.
CIRI cannot provide tax advice, and shareholders are encouraged to consult with a tax advisor regarding their individual circumstances and applicable federal and state tax requirements. If you use a tax preparer, please share this information with him or her. If you have further questions, please contact the Shareholder Relations Department at (907) 274-8638 or toll-free at 1-800-764-2474.