TAXABILITY OF 2016 SAI EDUCATIONAL AND FUNERAL BENEFITS AND SAFE DISTRIBUTIONS

Shee Atiká Fund Endowment (SAFE) Distributions

A portion of the SAFE Distributions paid out to you in 2016 will be taxable.  This means that you will have to report this portion on your 2016 federal income tax return.  Whether or not you actually have to pay tax on this portion will depend on your own specific circumstances – most of our shareholders will not have to pay any tax on this portion.  You WILL be receiving a Form 1099-DIV from Shee Atiká regarding the taxable portion of SAFE’s distributions.

Shee Atiká Incorporated (SAI) Scholarship and Funeral Benefits

Those shareholders who received scholarship and/or funeral benefits from SAI in 2016 will NOT be receiving any IRS forms from us regarding Scholarship and Funeral Benefit payments and there is nothing to report on your 2016 federal income tax return.

You should keep this letter, along with the Form 1099-DIV you receive with your tax records.  The 1099-DIV forms were mailed out of Sitka on January 25, 2017.  If you haven’t received your form, please contact the office to ensure your address is up-to-date.  We can also email, fax or resend a copy of the form.

Please feel free to contact me or our Chief Operating Officer, Ptarmica McConnell with any questions (or have your tax preparer call).

Sincerely,

Dr. Kenneth Cameron

President/CEO and Chairman of the Board