The Internal Revenue Service (IRS) 1099 is a tax form used to report income that is not from an employer. The type of form a Shareholder receives from Koniag — or if they receive a 1099 at all — depends on the type of funds received. To determine if income is taxable or nontaxable, and which type of form is issued, Koniag follows regulations from the U.S. Department of the Treasury. 

Most Class A and C Shareholders will not receive an IRS form 1099. Shareholders who received a 7(j) distribution in June will receive a 1099-MISC. Some Shareholders who inherited shares during 2024 from estates with accumulated funding may receive an IRS 1099-MISC and a 1099-DIV. 

Shareholders who provide any services like catering or serving on the Nomination Committee will receive an IRS 1099-NEC for nonemployee compensation. 2024 IRS 1099s were mailed to Shareholders in late January and are available on My Koniag at mykoniag.koniag.com. 

To find your IRS 1099 form on My Koniag, select the “My Financial Info” tab on the main menu, then select “Tax History”. 

Taxability of distributions from Koniag is determined by the U.S. Department of the Treasury. For more information on how taxability is determined, please refer to IRS Publication 525 (2024), Taxable and Nontaxable Income. 

Distributions from the Trust are generally not taxable to beneficiaries. Shareholders will not receive a 1099 for distributions that were paid from the Koniag Shareholder Settlement Trust.