How are withheld taxes remitted to the Internal Revenue Service?
Federal taxes withheld from plan distributions must be deposited with an authorized financial institution or the Federal Reserve Bank or branch in your area. Alternatively, the taxes can be remitted to the IRS through the Electronic Federal Tax Payment System (EFTPS), or by mailing a check payable to “Financial Agent,” along with Form 8109 (Federal Tax Deposit Coupon), to: Federal Tax Deposit Processing PO Box 970030 St. Louis, MO 63197 Taxes withheld from plan distributions must be reported as tax type 945, and the payer identified by the name of the retirement trust and the trust identification number (TIN). The accumulated amount of the income tax withheld will determine the due date for making the deposits. Ordinarily, withheld taxes must be remitted to the IRS by the 15th day of the month following the month in which the tax was withheld.
