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Village of Winnipesaukee Owners – W-9 Requirements & Unit Sales Update

Dear Owners,

As part of the ongoing sales process, please be reminded that any owner receiving a distribution of $600 or more must submit a valid W-9 form in accordance with IRS regulations. All qualifying distributions will be reported to the IRS, and submitting invalid or incomplete information is a violation of federal law. Please consult your tax advisor for guidance on how this may impact your personal tax situation.

Once GPCS receives your completed W-9, please allow up to 30 days for processing and distribution of funds. Please note that delays in submitting your W-9 will result in delays in receiving your distribution, as the 30-day window begins only once your valid form is received—not from the date of sale closing.

Sales activity for the 7 designated units at the Village of Winnipesaukee is well underway. The Board has partnered with Roche Realty Group, one of the most respected real estate firms in New Hampshire’s Lakes Region, to manage the marketing and transaction process.

Current status of designated units:

• Closed Units: 532, 522, 531, 415, and 422
   
• Pending Close: Unit 813 is scheduled to close on July 8th
   
• Active Listing: Unit 324 is currently on the market
   

If you have not yet submitted your W-9, we encourage you to do so promptly to avoid processing delays. For questions or to submit your completed W-9, please refer to the instructions provided in your recent owner communication.

Thank you for your continued cooperation.

Sincerely,

The Village of Winnipesaukee 

 Following a vote on November 3, 2023, seven units (324, 415, 422, 522, 531, 532, and 813) were designated for termination from the timeshare program to be sold as condominiums, per the Declaration and Bylaws. This reconfiguration aims to create a more stable and sustainable Association. Roche Realty has been engaged to manage the sales.  Proceeds from these sales will be distributed to owners of the units, with the Association using its portion for capital improvements.