March 18, 1994
TO: BROKER/DEALER ASSOCIATE MEMBERS NO. 5-94
COMPLIANCE COMMITTEE NO. 7-94
OPERATIONS MEMBERS NO. 8-94
PENSION MEMBERS NO. 7-94
SEC RULES MEMBERS NO. 15-94
TRANSFER AGENT ADVISORY COMMITTEE NO. 10-94
RE: IRS OFFERS ASSISTANCE IN LOCATING MISSING INDIVIDUALS
__________________________________________________________
Attached is a copy of Internal Revenue Service (IRS) Revenue Procedure
94-22, which describes a letter forwarding service that the IRS makes
available to private individuals, companies, organizations and state and local
agencies who are attempting to locate missing individuals. The IRS will only
forward letters that serve a "humane purpose," such as letters from a company
or an organization that controls assets that may be due a taxpayer, including
a retirement plan attempting to locate missing plan participants.
In order to make use of this program, a requester must furnish to the
IRS the social security number of the missing individual. If the IRS locates
an address for a recipient, then the company's letter will be forwarded in an
IRS envelope. The IRS will advise the recipient that: 1) the IRS is
forwarding the letter in accordance with current policy; 2) the IRS has not
divulged the recipient's address, or any other tax information, or the fact
that the letter has even been forwarded; 3) the IRS has no involvement in the
matter other than forwarding the letter; and 4) the decision concerning
whether to respond is
entirely up to the recipient. The IRS will not provide the requester with
information concerning the results of its efforts.
The revenue procedure sets forth separate programs for requests
involving less than 50 taxpayers, for which there is no charge, and requests
involving 50 or more taxpayers, the charge for which generally is $1,750 per
request, plus $.01 per address search, and $.50 per letter forwarded.
We will keep you informed of developments.
Kathy D. Ireland
Associate Counsel - Pension
Attachment