What is the difference between Class A1 & Class A2?
Class A1 shares were issued to original shareholders of Ahtna, Incorporated in 1971 who also enrolled to a village.
Class A2 shares were issued to original shareholders of Ahtna, Incorporated in 1971 who were not enrolled to a village. Since a Class A2 shareholder is not enrolled to a village, they receive the 7(j) funds directly.
All other classes do not receive this distribution.
Where does the 7(i)-distribution come from?
Under ANCSA, each regional corporation must share a portion of its net profits from the development of its natural resources with the other regional corporations. The amount of these 7(i) distributions varies depending upon the natural resource net profit of the regional corporations. Ahtna receives 7(i) money from other regional corporations throughout the year.
My address is different from what Ahtna has on file. What do I do?
You can easily update your contact information on the shareholder portal at MyAhtna.com. To register for the portal, you will need your social security number or your shareholder identification (ID) number. If you need assistance, please contact please contact Shareholder Services at (907) 822-3476 or firstname.lastname@example.org.
Your check will be mailed to the address we have on file, and if it is lost in the mail, we will have to wait for the check to return to the office. There is a 90-day wait period before a check is re-issued.
How can I receive my dividend sooner?
Shareholders are encouraged to sign up for direct deposit, the fastest and most reliable method to receive dividends. By choosing direct deposit, shareholders receive funds a week or more earlier than mailed checks. Risk of having a dividend check lost or stolen is also eliminated. Signing up is easy and convenient.
If you do not sign up for direct deposit, your check will be mailed to the address we have on file. If the check is lost in the mail, we will have to wait for the check to be returned to the office. There is a 90-day wait period before a check is re-issued.
Can Ahtna hold my check to be picked up?
No, all checks will be mailed or direct deposited.
I lost my check; my check was stolen, etc.
Ahtna has a policy of a 90-day wait period to have your check re-issued if reported lost. Direct deposit is the safest means of receiving your dividend. If your check was stolen, you will need to file a police report.
Are Ahtna dividends taxable?
Since 2018, shareholder dividends and Elder benefits have been distributed from the Settlement Trust, which allows them to be non-taxable. You will not receive a 1099 or be required to report the shareholder or Elder distribution to the IRS. 7(j) distributions are taxable; Class A2 (at-large) shareholders who receive 7(j) distributions of $600.00 or more will receive a 1099 and must report that amount to the IRS.
Why was the Settlement Trust established?
In 2013, the Ahtna Hwt’ anene (People’s) Settlement Trust was established to provide a means for Ahtna to pay stable, non-taxable dividends to shareholders in perpetuity. The Board of Directors Earnings and Distribution Policy sets guidelines for distributing earnings, contributing ten percent of net profits each year to the Trust.
What is a custodian and how is one appointed?
A custodian is an adult who has been appointed to hold Ahtna shares belonging to a minor (under 18 years old) who has received the shares through gift, inheritance, or issuance of Class L stock. Custodians for minor shareholders are usually nominated by the shareholder who gives the Ahtna shares to the minor, or by the person who applies on the minor’s behalf to receive inherited or Class L shares. A court may also appoint a custodian for a minor’s shares when deciding custody or appointing a guardian for the minor. If no custodian has been appointed or if there is a dispute, Ahtna will appoint a custodian for the minor’s shares following the priority set out in Alaska law.
Can Ahtna garnish my dividend?
Dividends on ANCSA stock are generally protected from judgment or garnishment, but there are exceptions. Ahtna will only garnish your dividend if it receives a court order from the State of Alaska or notice from the IRS. An administrative order from the Child Support Services Division is not sufficient. Out-of-state orders must be accompanied by registration and an Alaska court order to be honored.
Can my Settlement Trust distributions be garnished?
Settlement trust distributions are generally treated in the same manner as dividends; they are generally not subject to judgment or garnishment. There is generally greater protection from garnishment by court order. Child support orders will not garnish distributions unless they specifically call out settlement trust distributions. Note, child support orders in the State of Alaska usually include settlement trust distributions. In addition, the IRS has a policy that it has the authority to garnish ANCSA corporation dividends.