July 26, 1989
TO: TAX MEMBERS NO. 26-89
PENSION MEMBERS NO. 34-89
OPERATIONS MEMBERS NO. 22-89
UNIT INVESTMENT TRUST MEMBERS NO. 38-89
TRANSFER AGENT SHAREHOLDER ADVISORY COMMITTEE NO. 18-89
ACCOUNTING/TREASURERS COMMITTEE NO. 25-89
RE: IRS REQUIREMENTS FOR SUBSTITUTE FORMS 1099-B, 1099-DIV,
1099-R AND 5498
__________________________________________________________
Attached is a copy of IRS Revenue Procedure 89-42, which
sets forth the requirements for paper substitute forms, including
Form 1099-B, Statement for Recipients of Proceeds from Broker and
Barter Exchange Transactions, Form 1099-DIV, Statement for
Recipients of Dividends and Distributions, Form 1099-R, Statement
for Recipients of Total Distributions from Profit-Sharing,
Retirement Plans, Individual Retirement Arrangements, Insurance
Contracts, Etc., and Form 5498, Individual Retirement Arrangement
Information. These requirements apply to payments made during
calendar year 1989.
A new box for ordinary dividends has been added to the Form
1099-DIV. Consequently, other boxes on the form have been
renumbered and repositioned.
We will keep you informed of developments.
Keith D. Lawson
Assistant General Counsel
Attachment