719 Election to Withhold Federal Income Tax from Periodic Pa

Election to Withhold Federal Income Tax
from Periodic Payments
Pension Benefit Guaranty Corporation.
P.O. Box 151750, Alexandria, Virginia 22315-1750
Plan Name: FX.PrismCase.CaseTitle.XF
Plan Number: FX.PrismCase.CaseIdNmbr.XF
Date Printed: 02/01/2019
Date of Plan Termination: FX.PrismCase.DOPT.XF

PBGC Form 719

For assistance, call 1-800-400-7242
Participant Name : FX.PrismCust.FullName.XF

INSTRUCTIONS: Use this form to tell PBGC how much federal income tax to withhold from your monthly or
annual payment. If you have questions, call our Customer Contact Center at 1-800-400-7242. Please print
clearly with blue or black ink.

1. General information about you
Last Name

First Name

Middle Name

Social Security Number
/

/

Mailing Address

Apartment / Route Number

City

State

Country

Email

Daytime Phone

(

Extension

)

-

Zip Code

Evening Phone

x

(

)

-

2. Information on Federal tax withholding – Tax laws require that we withhold federal income tax from your
pension payments unless you instruct us to do otherwise. You have three choices. Please read them
carefully and make your selection on the next page. You may choose:
A. To have PBGC withhold no federal income taxes from your payments (not available if you live outside of the United
States).
B. To have PBGC follow IRS guidance and calculate your withholding.
If you choose this option, you need to tell us if you are married and the number of allowances you claim. It is possible
that we will not withhold any federal income tax even if you choose this option – if, for example, your benefit is low or if
you claim a large number of allowances. You may increase the amount we withhold by claiming fewer allowances, by
having additional money withheld, or by electing option C.
C. To have PBGC withhold the amount or percentage you tell us to withhold each month.

What if not enough taxes are withheld based on your choice?
PBGC withholds taxes based on the election you make when you apply for your pension benefit. If you have
other income that would affect the amount of taxes you owe, you may need to pay additional taxes. You
may also need to pay penalties to the IRS. You may wish to consult a tax specialist or the IRS about your
decision.
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Election to Withhold Federal Income Tax from Periodic Payments
Plan Number: FX.PrismCase.CaseIdNmbr.XF

Form 719, page 2 of 2

Participant Name: FX.PrismCust.FullName.XF

What happens if you do not choose any option?
If you do not choose one of these options, we will withhold federal taxes as if you were a married individual with
three allowances. The amount we will withhold depends on your monthly pension.
What if you want to pick a different option later?
You may change your option at any time. To choose a different option, simply call PBGC's Customer Contact
Center at 1-800-400-7242. We will then send you a tax withholding form to complete. Depending on when we
receive it, we will make the change by the next month or the month after that.
What if you don't live in the United States?
If you live outside the United States, you cannot elect option A. You may be eligible for special tax treatment
under a tax treaty with the country you reside in. We will send you additional information after you file this form.

When determining your federal tax withholding, you may find it helpful to read the IRS instructions for
completing the IRS Form W-4P (Withholding Certificate for Pension or Annuity Payments). You can print a
copy from the IRS Internet site under Forms and Publications at www.IRS.gov.

Election - In general, tax laws require PBGC to withhold federal income tax from your pension payments, unless
you specifically elect not to have taxes withheld. Select only one option - A or B or C.
A.

I elect not to have federal income tax withheld. (Available to U.S. residents only.)



OR
B.

I elect to have federal income tax withheld based on IRS instructions.
Marital Status (REQUIRED)

Single 



Married 

Number of withholding allowances (REQUIRED)

.00

Additional monthly amount to be withheld (optional): $

OR
C.

I elect to have the following amount withheld for federal income tax.
The dollar amount or percentage to be withheld
monthly is:

$


.00

OR ______ %

If you do not choose an option, we will withhold federal income taxes as if you were a married individual with three
allowances. This means that for year 20162019, we will withhold taxes only if your monthly PBGC benefit is
$1,7202,033 or more.

3. Signature – Sign and date this form.
SIGNATURE

DATE