Draft Primary and Secondary Layouts for 2006 Year-End Tax Reporting; Comments Requested

©2006 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. [20160] July 6, 2006 TO: ACCOUNTING/TREASURERS COMMITTEE No. 7-06 BANK, TRUST AND RECORDKEEPING ADVISORY COMMITTEE No. 20-06 BROKER/DEALER ADVISORY COMMITTEE No. 24-06 CLOSED-END INVESTMENT COMPANY COMMITTEE No. 17-06 OPERATIONS COMMITTEE No. 16-06 TAX COMMITTEE No. 25-06 TRANSFER AGENT ADVISORY COMMITTEE No. 44-06 RE: DRAFT PRIMARY AND SECONDARY LAYOUTS FOR 2006 YEAR-END TAX REPORTING; COMMENTS REQUESTED Attached for your review are drafts of the revised primary and secondary layouts and instructions that regulated investment companies (“RICs”) will use to report 2006 year-end tax information to brokers and banks. These revised layouts and instructions reflect comments made by Institute members, brokers and other parties involved in the year-end reporting process. The draft 2006 Primary Layout is an excel spreadsheet that “tracks” the current version of the IRS Form 1099-DIV. The draft 2006 Secondary Layout, also an excel spreadsheet, provides a format for RICs to use in reporting CUSIP-level tax information regarding various additional tax items. One notable proposed change to the Secondary Layout is the addition of Columns 9-17 for reporting whether federal or state threshold requirements have been met for the specific states. Your comments are requested by close of business Monday, July 10, 2006. You may contact Lisa Robinson at 202-326-5835 or lrobinson@ici.org. Lisa Robinson Associate Counsel Attachment (in .pdf format)