December 26, 1989
TO: OPERATIONS MEMBERS NO. 37-89
SEC RULES MEMBERS NO. 75-89
TAX MEMBERS NO. 50-89
BROKER/DEALER ADVISORY COMMITTEE NO. 58-89
ACCOUNTING/TREASURERS MEMBERS NO. 8-89
RE: REMINDER -- YEAR-END DIVIDEND REPORTING
__________________________________________________________
Recently, we reported to you about an agreement between
representatives of the mutual fund and broker/dealer industries
by which mutual funds have undertaken to provide final year-end
tax information (including any dividend reclassifications) to
broker/dealers for "street-name" account 1099 reporting by
January 15. (See ICI Memorandum to Operations Members No. 29-89,
SEC Rules Members No. 54-89, Tax Members No. 33-89,
Broker/Dealers Advisory Committee No. 44-89, and
Accounting/Treasurers Members No. 5-89, dated October 4, 1989.)
It has been brought to our attention that a number of fund
groups have been requested to provide the information earlier
than January 15. To the extent you are able to accommodate
broker/dealers requesting 1099 information earlier than January
15, we urge you to do so. However, we wish to remind you that,
in any case, the information should be provided not later than
January 15.
Thank you for your attention to this matter.
Donald E. O'Connor
Vice President - Operations