©2005 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete.
Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice.
[19044]
August 15, 2005
TO: ACCOUNTING/TREASURERS COMMITTEE No. 12-05
BANK AND TRUST ADVISORY COMMITTEE No. 11-05
BROKER/DEALER ADVISORY COMMITTEE No. 27-05
CLOSED-END INVESTMENT COMPANY COMMITTEE No. 28-05
OPERATIONS COMMITTEE No. 18-05
TAX COMMITTEE No. 27-05
TRANSFER AGENT ADVISORY COMMITTEE No. 42-05
RE: 2005 YEAR-END TAX REPORTING FORMATS
Primary and Secondary Layouts and Instructions
Attached are the “Primary” and “Secondary” Layouts that are available for regulated
investment companies (“RICs”) to utilize in reporting 2005 year-end tax information to brokers
and banks. The 2005 Primary Layout is an excel spreadsheet that has been designed to “track”
IRS Form 1099-DIV. The 2005 Secondary Layout, also an excel spreadsheet, provides a format
for RICs to use in reporting CUSIP-level tax information regarding various additional tax
related items. As in prior years, these formats are available on the Institute’s members only
website at http://members.ici.org/yearendtax.do.1
Requested Reporting Date
The brokerage community has requested that funds provide year-end tax information
on the Primary Layout no later than January 9, 2006. Information on the Secondary Layout is
requested no later than January 17, 2006. Any fund complex that requires additional time to
prepare the data may choose to communicate with the brokers and banks that sell their funds to
arrange an alternate date.
1 Hard copies of the documents and spreadsheets are available to the Institute’s members upon request to the
Institute’s Ezella Wynn (ewynn@ici.org or 202/218-3560).
2
* * *
The rules governing the proper tax characterization of distributions by mutual funds
can be complex. Each fund should consult its own tax advisor regarding the proper tax
characterization and reporting of the fund’s distributions.
Keith Lawson
Senior Counsel - Tax Law
Attachment (in .pdf format)