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February 7, 2018
A letter is being mailed to Connecticut residents currently taking automatic distributions from a retirement account with Capital Bank and Trust (CB&T). The letter informs investors that effective January 1, 2018, the state of Connecticut requires 6.99% state income tax withholding on all retirement distributions. The state does allow investors who qualify to opt out of state withholding. They must submit a completed Form CT-W4P (Withholding Certificate for Pension Annuity Payments). No form is required if investors choose to withhold more than the default rate of 6.99%.
If CB&T does not receive the form, we are required to withhold taxes at the 6.99% rate. The completed CT-W4P can be faxed to (888) 421-4371, Attention: CB&T Redemption.
For questions regarding this mailing, contact us.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
Content contained herein is not intended to serve as impartial investment or fiduciary advice. The content has been developed by Capital Group, which receives fees for managing, distributing and/or servicing its investments.