Will the payments be reported to the Internal Revenue Service?
If the total amount of the payment(s) due a Colorado consumer pursuant to the settlement is(are) $600 or more, LandAmerica is obligated to report the payment to the Internal Revenue Service.
If you do not provide us with your social security number and your Captive Reinsurance payment(s) is(are) $600.00 or more, LandAmerica will withhold 28% of the amount due you, remit the withheld amount to the Internal Revenue Service, and pay the balance to you, as required by the Internal Revenue Code and Regulations.
For more information, please contact us directly at 1-866-526-3264.
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