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On Independence Day, the New York Stock Exchange and Capital Group’s U.S. offices will be closed.

In observance of the Independence Day federal holiday, the New York Stock Exchange and Capital Group’s U.S. offices will close early on Wednesday, July 3 and will be closed on Thursday, July 4. On July 3, the New York Stock Exchange (NYSE) will close at 1 p.m. (ET) and our service centers will close at 2 p.m. (ET)

Announcements

January 19, 2023

Federal tax withholding update

The new Internal Revenue Service (IRS) Form W-4R helps retirement account owners determine the appropriate federal withholding rate for nonperiodic payments and eligible rollover distributions.

The IRS now allows an account owner to elect a federal withholding rate from 1% to 9% for nonperiodic payments that are not eligible rollover distributions (e.g., hardship withdrawals and required minimum distributions), in addition to being able to opt out, select the default 10% rate, or select a rate greater than 10%.

We’ve incorporated this IRS update into our online distribution processes, and it will be incorporated into our distribution forms in early 2023.  We’ll continue to accept forms that don’t contain Form W-4R components; however, we may require our updated forms in the future. If so, we’ll provide additional communication to you. 

What’s not changing:

  • If no federal withholding election is made, we will continue to withhold 10% for non-eligible rollover distributions.
  • Eligible rollover distributions will remain subject to 20% federal withholding if not directly rolled over.
     

To learn more about Form W-4R, visit the IRS website or call us at (800) 421-6019. 

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As of July 1, 2024, American Funds Distributors, Inc. was renamed Capital Client Group, Inc.
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