SEC Filings & Financial Reports

Tax Return Guides for Certificate Holders of the
Trust of Great Northern Iron Ore Properties

Great Northern Iron Ore Properties is a grantor trust for income tax purposes. If you are an investor in the Trust of Great Northern Iron Ore Properties, you are required to report your proportionate share of the Trust's taxable income on your federal and state income tax returns (if applicable). A Tax Return Guide is prepared annually to assist certificate holders in the reporting of their taxable income allocated from the Trust of Great Northern Iron Ore Properties.

"Record holders" (those with share certificates and/or accounts held via our stock transfer agent) will receive their tax information directly from Great Northern Iron Ore Properties. The record holder tax information for domestic investors will contain a Substitute Form 1099-MISC (reporting one's total allocated taxable income from the Trust), a Trust Supplemental Statement (showing the number of shares held on the four quarterly record dates), and a copy of the Tax Return Guide. Foreign investors will receive a Form 1042-S and a copy of the Tax Return Guide.

"Street name holders" (those with holdings in brokerage accounts) will receive their tax information directly from their brokers. The format of the street name tax information sometimes varies due to the brokerage firms' tax accounting/reporting programs; however, the brokerage firms should provide their clients that have an investment in Great Northern Iron Ore Properties with a copy of the Tax Return Guide. If not, copies of recent Tax Return Guides are available below.

In either case, whether one is a record holder or a street name holder, the Tax Return Guide will be required to calculate one's allocated taxable income from the Trust of Great Northern Iron Ore Properties. The Tax Return Guide will provide per unit (share) factors to separate the total allocated taxable income into interest income, rental income and gain from the sale of iron ore (long-term capital gain income). The Tax Return Guide will also provide information on other deductions and adjustments that may be applicable to the investor.

Please note that the Trust's distributions declared or paid throughout the year are not the basis for determining one's tax liability, nor do the distributions constitute qualified dividend income as defined by the tax code. Rather, investors must use the worksheets in the Tax Return Guide to calculate their allocated taxable income from Great Northern Iron Ore Properties and enter the appropriate amounts onto their income tax returns. 

Tax Return Guides for Certificate Holders

•   Year Ended December 31, 2009
•   Year Ended December 31, 2008
•   Year Ended December 31, 2007
•   Year Ended December 31, 2006
•   Year Ended December 31, 2005