Pursuant to Internal Revenue Code Section 6045B, Corebridge Financial, Inc. is reporting to all shareholders of record the estimated character of its 2023 cash distributions and non-public share repurchases treated as cash distributions (collectively, “distributions”). As of December 31, 2023, Corebridge estimates that approximately 25% of distributions made during 2023 will be treated as return of capital for federal income tax purposes. See the Forms below for additional information. Tax reporting for 2023 distributions will occur on IRS Form 1099-DIV, which will be issued in January 2024.
The determination of whether a distribution is treated as a taxable dividend or non-taxable return of capital to shareholders is based upon an estimate of Corebridge’s U.S. earnings and profits. It is possible that as Corebridge completes and files its U.S. corporate tax return filings with the IRS for 2023, this estimate of earnings and profits could change and result in a change to the character of the distribution reported above. If that happens, a corrected IRS Form 1099-DIV will be issued, and in cases where the tax basis is affected, an IRS Form 8937 will be published on Corebridge’s website below. Please note that Corebridge is a corporation for federal tax purposes, and owners of the shares who receive a distribution will only receive an IRS Form 1099-DIV shortly after year-end.
Corebridge encourages shareholders of record to consult with their tax professional for the proper tax treatment of any Corebridge distributions for inclusion in the shareholder of record's tax return, including for federal, state, local or foreign tax purposes.