August 22, 1990
TO: ACCOUNTING/TREASURERS COMMITTEE NO. 27-90
TRANSFER AGENT ADVISORY COMMITTEE NO. 30-90
OPERATIONS MEMBERS NO. 24-90
PENSION MEMBERS NO. 33-90
TAX MEMBERS NO. 33-90
UNIT INVESTMENT TRUST MEMBERS NO. 58-90
RE: IRS REQUIREMENTS FOR SUBSTITUTE FORMS 1099-B, 1099-DIV,
1099-R AND 5498
__________________________________________________________
Attached is a copy of IRS Revenue Procedure 90-44, which
sets forth the requirements for paper substitute forms, including
Form 1099-B, Statement for Recipients of Proceeds from Broker and
Barter Exchange Transactions, Form 1099-DIV, Statement for
Recipients of Dividends and Distributions, Form 1099-R, Statement
for Recipients of Total Distributions from Profit-Sharing,
Retirement Plans, Individual Retirement Arrangements, Insurance
Contracts, Etc., and Form 5498, Individual Retirement Arrangement
Information. These requirements apply to payments made during
calendar year 1990.
A new IRA/SEP checkbox has been added to the Form 1099-R.
Consequently, other boxes on the form have been slightly
repositioned.
We will keep you informed of developments.
David J. Mangefrida, Jr.
Assistant General Counsel
Attachment
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