Senate Bill Would Extend Reporting Deadline for Certain 1099 Forms From January 31 to February 15

 

 

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February 16, 2007

TO: BANK, TRUST AND RECORDKEEPER ADVISORY COMMITTEE No. 7-07
BROKER/DEALER ADVISORY COMMITTEE No. 11-07
OPERATIONS MEMBERS No. 8-07
TAX MEMBERS No. 10-07
TRANSFER AGENT ADVISORY COMMITTEE No. 10-07     RE: SENATE BILL WOULD EXTEND REPORTING DEADLINE FOR CERTAIN 1099 FORMS FROM JANUARY 31 TO FEBRUARY 15

 

Legislation (attached) has been introduced by Senator Schumer to extend the reporting deadline for certain amounts reported on Forms 1099 from January 31 to February 15.  The February 15 deadline would apply to all regulated investment company (RIC) dividends, including exempt-interest dividends.  The bill would apply to returns, reports and other statements due after December 31, 2007.

 

Lisa Robinson
Associate Counsel

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