©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.
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October 11, 2006
TO: ACCOUNTING/TREASURERS COMMITTEE No. 13-06
BANK AND TRUST ADVISORY COMMITTEE No. 29-06
BROKER/DEALER ADVISORY COMMITTEE No. 41-06
CLOSED-END INVESTMENT COMPANY COMMITTEE No. 29-06
OPERATIONS COMMITTEE No. 27-06
TAX COMMITTEE No. 36-06
TRANSFER AGENT ADVISORY COMMITTEE No. 69-06
RE: FINAL 2006 YEAR-END TAX REPORTING FORMATS
Primary and Secondary Layouts and Instructions
Attached are the final “Primary” and “Secondary” Layouts that are available for regulated
investment companies (“RICs”) to utilize in reporting 2006 year-end tax information to brokers and
banks. The 2006 Primary Layout is an excel spreadsheet that has been designed to “track” IRS Form
1099-DIV. The 2006 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. These formats are
available on the Institute’s members only website at http://members.ici.org/yearendtax.do.1
Changes to Formats
The final versions of the Primary and Secondary Layouts and instructions include the following
changes to the documents released on July 17, 2006:
(1) Primary Layout
• The parenthetical under Column 22 has been stricken because Column 22 will not always
equal columns 23+24+25.
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
• Column 31 has been added to report exempt-interest dividends subject to AMT. Please
note that unlike other entries on the Primary Layout, the AMT amount in Column 31
should be entered as a percentage and not as a dollar amount.
(2) Secondary Layout
• Column 4, which reported the percentage of exempt-interest dividends subject to AMT,
has been eliminated because this column has been moved to Column 31 on the Primary
Layout. This column was retained as a placeholder and marked "Reserved" so that people
who have already started programming will not have to make major systems changes.
• Column 5, which reported amounts subject to the Florida Intangibles tax, has been
eliminated because the tax has been repealed. As with column 4, this column was retained
as a placeholder and marked "Reserved" to avoid major systems changes.
Requested Reporting Date
The brokerage community has requested that funds provide year-end tax information on the
Primary Layout no later than January 9, 2007. Information on the Secondary Layout is requested no later
than January 17, 2007. 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.
* * *
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.
Lisa Robinson
Associate Counsel
Attachment no. 1 (in .pdf format)