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Applying for a Refund in 2011?

If you plan on applying for a refund of your CalSTRS contributions this calendar year, you are encouraged to submit your application no later than November 15, 2011, due to heavy volume.

If your application is received after November 15, 2011, CalSTRS cannot guarantee that you will receive a refund in the 2011 calendar year.

An incomplete application could further delay processing your refund. Make sure that all parts of the form are completed.

Before applying for a refund, read the Refund: Consider the Consequences fact sheet.

Crossing Calendar Years Could Have Severe Tax Consequences

A change in how you want your refund paid or a cancellation of your refund may have tax consequences if two tax years are involved.

For example, if you receive a refund in December 2011 and later decide to cancel your refund application by returning the gross refund amount in January 2012, the refund amount will be reported as income on your 2011 IRS Form 1099-R. You will be responsible for any taxes on those funds.

Contact CalSTRS if you have any questions.

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