CIRI IRS Form 1099s for the 2024 tax year were mailed no later than Jan. 31, 2025. Shareholders with Qenek accounts may access their Form 1099 in the portal. Tax information remains accessible in Qenek for seven years, allowing Shareholders to easily view and print their forms, if desired.
2024 tax forms will reflect reportable payments made to affected CIRI Shareholders in 2024. Shareholders may receive more than one type of Form 1099 depending on the type of CIRI income received. These include:
- Form 1099-MISC (resource revenue payments and prizes): Resource revenue—or 7(j)—payments derive from resource revenue sharing obligations among the 12 land-based Alaska Native regional corporations, as required by the Alaska Native Claims Settlement Act (ANCSA). Shareholders who owned at-large stock on March 22, 2024, received a $11.0212 per at-large share (or $1,102.12 per 100 shares) 7(j) payment from CIRI in 2024. Additionally, if you inherited at-large stock in 2024 and received an estate settlement payment, a portion of that payment may have included held 7(j) funds.
- Resource revenue payments are reported in Box 3 – Other Income on Form 1099-MISC. ANCSA requires that resource revenue amounts distributed in connection with CIRI village-class stock be paid to the associated village; therefore, CIRI does not report these payments as individual Shareholder income. Shareholder prizes are also reported in Box 3 – Other Income on Form 1099-MISC.
- Form 1099-DIV (estate payments): If you inherited CIRI shares in 2024, any held dividends paid by CIRI in connection with the inherited shares will be reported in Boxes 1a – Ordinary Dividends and 1b – Qualified Dividends on Form 1099-DIV. If you have held your shares for less than one year, please consult your tax advisor regarding the proper treatment of qualified dividends.
2024 CST PAYMENTS ARE NONTAXABLE
The quarterly payments issued in 2024 from the CIRI Settlement Trust (CST) Distribution Fund and the CST Elders Fund are nontaxable; thus, tax forms will not be issued, and the payments will not be reported to the IRS.
Please note that it is your responsibility to accurately report your CIRI income on your tax returns; CIRI cannot provide tax advice. The proper IRS forms and schedules to use when completing individual tax returns may vary depending on the types of CIRI payments received. Shareholders are encouraged to consult with a tax advisor regarding individual circumstances and applicable federal and state tax requirements. The deadline to file 2024 taxes is Tuesday, April 15, 2025.
