We provide each diocese with the following information in a downloadable Excel spreadsheet:

• The names of all active clergy and lay employees in your diocese who have had group term life insurance coverage at any time throughout the year. Please note that retired clergy will not appear on these reports.
• The amount of group term life insurance coverage provided.
• The amount of imputed income, if any, that will need to be reported on the employee’s Form W-2 in Box 1. We compile the data in November to ensure that we have the reports ready by early December. The figures are computed based on the assumption that the employee has the coverage through December 31, 2024. If an employee does not have coverage through December 31, the figure for that employee will have to be manually calculated.

You must supply the imputed income figures we give you to the parishes/ institutions within your diocese in a timely manner so that they may include this amount on the employee’s Form W-2 in Box 1.

In addition to the reports that we are making available to diocesan administrators, CPF will mail letters by Friday, December 20, 2024, informing both active and retired clergy about imputed income and their personal 2024 imputed income totals.