Form MI W-4P Withholding Certificate for Michigan Pension or Annuity Payments - Michigan

Form MIW-4P or the "Withholding Certificate For Michigan Pension Or Annuity Payments" is a form issued by the Michigan Department of Treasury.

Download a fillable PDF version of the Form MIW-4P down below or find it on the Michigan Department of Treasury Forms website.

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MI W-4P
Michigan Department of Treasury
4924 (Rev. 01-18)
Withholding Certificate for Michigan Pension or Annuity Payments
INSTRUCTIONS: Use Form MI W-4P to notify pension administrators of the correct amount of Michigan income tax to withhold from
your pension or annuity payment(s). You may also use this form to choose not to have any Michigan income tax withheld from your
payment(s). Military pensions and pensions paid by the Railroad Retirement Board are exempt from tax and withholding.
Entities subject to Michigan taxes that disburse pension or annuity payments are required to collect withholding if the payment is
expected to be taxable unless you opt out using this form (see instructions for line 1). Entities over which Michigan does not have
jurisdiction are not required to withhold Michigan income tax from your pension or annuity payment(s). If your pension administrator does
not withhold, you may need to make estimated income tax payments to avoid owing penalty and interest. For further information, see
Michigan Estimated Income Tax for Individuals
General Instructions on page two, the
(MI-1040ES) or consult a tax advisor.
If you have more than one pension administrator, you will need to complete a form for each pension or annuity. If you do not file MI
W-4P, the administrator may withhold even if you will not owe tax on your pension income. See instructions on pages two and three.
GENERAL INFORMATION
Name
Social Security Number
Mailing Address (Number, Street, P.O. Box)
City
State
ZIP Code
Marital Status
Single
Married
Married (withhold the same as “Single”)
Check only ONE box.
For joint filers, the age of the oldest spouse determines the age category.
1. Check here if your pension or annuity payments are not taxable or you wish to opt out. See lines 9 or 10 for additional voluntary withholding.
NOTE: Opting out may result in a balance due on your MI-1040 as well as penalty and/or interest.
2. Check here if you (or your spouse if older) were born before 1946. See instructions for line 2.
3. Check here if you (or your spouse if older) were born during the period 1946 through 1952 (deduction is $20,000 single/$40,000 joint).
See instructions for line 3.
4. Check here if you were born during the period 1946 through 1952 and your pension or retirement benefits were from employment
with a governmental agency that was not covered by the Social Security Act (deduction is $35,000 single/$55,000 joint).
5. Check here if you were born after 1952, your pension or retirement benefits were from employment with a government agency that was not
covered by the Social Security Act, and you were retired as of January 1, 2013 (deduction is $35,000 single/$55,000 joint).
6. Check here if you (and your spouse) were born after 1952, either you or your spouse are now age 62, and your pension or retirement benefits
were from employment with a governmental agency that was not covered by the Social Security Act (deduction is $15,000).
7. Check here if you (and your spouse) were born after 1952. See instructions for line 7.
Enter number of personal exemptions allowed on your Michigan Income Tax Return (MI-1040). Do not claim
8.
8.
more than your allowable personal exemptions on all MI W-4s (wages) or MI W-4P forms combined.
Additional Voluntary Withholding from Pension or Annuity Payment:
Voluntary percentage amount you want withheld from each pension or annuity payment (if
permitted by
9.
9.
%
your pension administrator). This amount must be a percentage.
Voluntary dollar amount you want withheld from each pension or annuity payment (if permitted by your
10.
00
10.
pension administrator).
AUTHORIZATION
Signature
Printed or Typed Name and Title
Date
Sign and return this completed form to the administrator of your pension or annuity. Keep a copy for your records.
Visit www.michigan.gov/taxes for additional information.
Reset Form
MI W-4P
Michigan Department of Treasury
4924 (Rev. 01-18)
Withholding Certificate for Michigan Pension or Annuity Payments
INSTRUCTIONS: Use Form MI W-4P to notify pension administrators of the correct amount of Michigan income tax to withhold from
your pension or annuity payment(s). You may also use this form to choose not to have any Michigan income tax withheld from your
payment(s). Military pensions and pensions paid by the Railroad Retirement Board are exempt from tax and withholding.
Entities subject to Michigan taxes that disburse pension or annuity payments are required to collect withholding if the payment is
expected to be taxable unless you opt out using this form (see instructions for line 1). Entities over which Michigan does not have
jurisdiction are not required to withhold Michigan income tax from your pension or annuity payment(s). If your pension administrator does
not withhold, you may need to make estimated income tax payments to avoid owing penalty and interest. For further information, see
Michigan Estimated Income Tax for Individuals
General Instructions on page two, the
(MI-1040ES) or consult a tax advisor.
If you have more than one pension administrator, you will need to complete a form for each pension or annuity. If you do not file MI
W-4P, the administrator may withhold even if you will not owe tax on your pension income. See instructions on pages two and three.
GENERAL INFORMATION
Name
Social Security Number
Mailing Address (Number, Street, P.O. Box)
City
State
ZIP Code
Marital Status
Single
Married
Married (withhold the same as “Single”)
Check only ONE box.
For joint filers, the age of the oldest spouse determines the age category.
1. Check here if your pension or annuity payments are not taxable or you wish to opt out. See lines 9 or 10 for additional voluntary withholding.
NOTE: Opting out may result in a balance due on your MI-1040 as well as penalty and/or interest.
2. Check here if you (or your spouse if older) were born before 1946. See instructions for line 2.
3. Check here if you (or your spouse if older) were born during the period 1946 through 1952 (deduction is $20,000 single/$40,000 joint).
See instructions for line 3.
4. Check here if you were born during the period 1946 through 1952 and your pension or retirement benefits were from employment
with a governmental agency that was not covered by the Social Security Act (deduction is $35,000 single/$55,000 joint).
5. Check here if you were born after 1952, your pension or retirement benefits were from employment with a government agency that was not
covered by the Social Security Act, and you were retired as of January 1, 2013 (deduction is $35,000 single/$55,000 joint).
6. Check here if you (and your spouse) were born after 1952, either you or your spouse are now age 62, and your pension or retirement benefits
were from employment with a governmental agency that was not covered by the Social Security Act (deduction is $15,000).
7. Check here if you (and your spouse) were born after 1952. See instructions for line 7.
Enter number of personal exemptions allowed on your Michigan Income Tax Return (MI-1040). Do not claim
8.
8.
more than your allowable personal exemptions on all MI W-4s (wages) or MI W-4P forms combined.
Additional Voluntary Withholding from Pension or Annuity Payment:
Voluntary percentage amount you want withheld from each pension or annuity payment (if
permitted by
9.
9.
%
your pension administrator). This amount must be a percentage.
Voluntary dollar amount you want withheld from each pension or annuity payment (if permitted by your
10.
00
10.
pension administrator).
AUTHORIZATION
Signature
Printed or Typed Name and Title
Date
Sign and return this completed form to the administrator of your pension or annuity. Keep a copy for your records.
Visit www.michigan.gov/taxes for additional information.
Form 4924, Page 2
Instructions for Completing MI W-4P,
Withholding Certificate for Michigan Pension or Annuity Payments
Is every pension administrator required to withhold
General Instructions
Michigan tax? Only companies over which Michigan has taxing
Significant income tax changes took effect in 2012 and going
jurisdiction are required to withhold Michigan tax from your
forward. As a result, your pension payment may be subject to
retirement benefits. If your pension administrator does not fall
tax and an underpayment may result if the incorrect amount of
under Michigan jurisdiction, you may request to have Michigan
tax is withheld. These changes may result in a balance due if the
tax withheld, but the company is not required to do so. If no taxes
incorrect amount is withheld from pension or annuity payment(s).
are withheld from your payments, it is likely you will be required
Caution: Some benefits do not meet the definition of “pension
to make estimated payments in place of the withholding. Contact
and retirement benefits” under Michigan’s individual income
your pension and/or annuity administrator to verify whether tax
tax laws and are not eligible for subtraction on your Michigan
will be withheld from your payments.
income tax return. Visit www.michigan.gov/taxes for additional
Line-by-Line Instructions
information. For these instructions the words “retirement
benefits” mean pensions, annuities, and other retirement benefits.
Line 1: You may opt out of withholding tax from your
retirement benefits if you believe you will not have a balance
Taxpayers born before 1946 may deduct all retirement benefits
due on your MI-1040. If you (and your spouse) opt to have no
paid from public employment and retirement benefits from
Michigan tax withheld from your retirement benefits by checking
private plans up to $51,570 on a single return or $103,140 on a
the box on line 1, it may result in a balance due on your MI-1040
joint return. Recipients born during the period January 2, 1952
as well as penalty and/or interest.
through December 31, 1952, are eligible to deduct retirement
benefits up to $20,000 for taxpayers filing as single or married
Line 2: If you (or your spouse) were born prior to 1946, all
filing separately, or $40,000 if married and filing a joint return.
benefits from public sources are exempt and benefits from
For joint filers, the age of the oldest spouse determines the age
private sources may be subtracted up to $51,570 for a single filer
category.
or married filer filing separately or $103,140 if married filing a
joint return for the 2018 tax year. In addition, benefits that will
For tax year 2018, recipients born during the period
be rolled into another qualified plan or IRA will not be taxable
January 1, 1946 through January 1, 1952, are eligible to deduct
if the amount rolled over is not included in federal adjusted gross
$20,000 against all income, not just retirement benefits.
income (AGI). Any private retirement benefits in excess of the
If the recipient will be filing a joint return and the older spouse
limits above are taxable.
was born during the period detailed above, the deduction is
$40,000 against all income. Recipients born during the period
Line 3: If you, or your spouse if your spouse is older than
January 1, 1946 through January 1, 1952, may continue to use the
you, were born during the period January 1, 1946 through
MI W-4P so that they have the appropriate amount withheld from
January 1, 1952, you may deduct the Michigan standard deduction
their income.
equal to $20,000 ($40,000 on a joint return) from your taxable
income instead of retirement benefits. If you (or your spouse if
Recipients born after 1952 may not deduct retirement benefits on
older) were born after January 1, 1952 and before January 1, 1953,
the Michigan Income Tax Return (MI-1040). For exceptions see
the first $20,000 for single filers or $40,000 for joint filers of all
lines 5 and 6.
private and public pension and annuity benefits may be subtracted
Multiple pensions: If you (and your spouse) receive multiple
from Michigan taxable income. Benefits in excess of these limits
pension payments, your withholding on those payments may not
are taxable.
cover your entire tax liability. Married couples where each spouse
Line 4: If you were born during the period January 2, 1952
receives retirement benefits may choose to have withholding
through December 31, 1952, and received retirement benefits
calculated as if each was single on the MI W-4P and select one
from employment with a governmental agency that was exempt
personal exemption in order to have sufficient withholding to
from the Social Security Act, the first $35,000 for single
cover the tax liability. Taxpayers with multiple pensions may
filers or $55,000 for joint filers of all retirement benefits may
need to make quarterly estimated payments (MI-1040ES) or
be subtracted from Michigan taxable income. The Michigan
consult a tax advisor to ensure the proper amount is withheld or
standard deduction for those born during the period January
paid through estimated payments.
1, 1946 through January 1, 1952, is also increased by $15,000
Estimated Payments: There are penalties for not paying enough
if you received retirement benefits from employment with a
state income tax during the year, either through withholding or
governmental entity that was exempt from the Social Security
estimated tax payments. Taxpayers who choose not to have tax
Act.
withheld from their retirement benefits may be required to make
Line 5: If you were born after 1952, received retirement benefits
estimated tax payments. Refer to Form MI-1040ES for estimated
from employment with a government agency not covered by the
tax requirements.
Social Security Act, and were retired as of January 1, 2013, the
When should I complete this form? Complete Form MI W-4P
first $35,000 for single filers or $55,000 for joint filers of all
and give it to the administrator of your retirement benefits as
retirement benefits may be subtracted from Michigan taxable
soon as possible.
income.
Your tax situation may change from year to year; you may want
Line 6: If you were born after 1952, have reached age 62,
to evaluate your withholding each year. You can change the
and received retirement benefits from employment with a
amount to be withheld by submitting an updated Form MI W-4P
governmental agency that was exempt from the Social Security
to your pension administrator at any time.
Act, the first $15,000 of retirement benefits may be subtracted
from Michigan taxable income.
Form 4924, Page 3
Line 7: If you (and your spouse) were born after 1952 and lines
5 and 6 do not apply, all private and public retirement benefits are
fully taxable and may not be subtracted from Michigan taxable
income.
Line 8: Enter personal exemptions you are claiming for
withholding. Do not claim more than your allowable personal
exemptions on all MI W-4s (wages) or MI W-4P forms combined.
Line 9: You may designate additional withholding if you expect
to owe more than the amount withheld. The amount on line 9
must be a percentage. Check with your pension administrator to
see if they permit additional withholding.
Line 10: If allowed by your pension administrator, you may enter
an additional dollar amount to be withheld from each payment.
Failure to have sufficient tax withheld from your
retirement benefits may result in a balance due on
your MI-1040 as well as penalty and/or interest.

Download Form MI W-4P Withholding Certificate for Michigan Pension or Annuity Payments - Michigan

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