National Electrical Annuity Plan

Enriching the Lives of Everyone We Touch

Annual Tax Withholding Election Forms

January 1, 2006 01:00 AM
Once every calendar year, we mail out a change of federal tax withholding form. IRS regulations require us annually to send a notice to recipients regarding federal tax withholding. Recipients are not obligated to change the amount withheld. By using Teleform™ automated software, we strive to process each change of withholding swiftly and efficiently.
 
What is Teleform™? 
Teleform™ is automated software that processes tax withholding forms. We introduced the system in 1997. This software allows us to process tax withholding forms faster. A special bar code located on the form allows us to scan the document into our system. Teleform™ then recognizes the data and organizes it in our system. Before the introduction of Teleform™, processing changes made to tax withholding forms took almost four months. Now, it only takes about a month. 
 
I don't plan to change my withholding. Should I still contact NEAP? 
No, you don’t have to contact us. Only contact us if you want to change how much federal tax is withheld from your monthly benefit. 
 

Back