Tax Facts

707 / What are the reporting requirements under JGTRRA 2003?

Form 1099-DIV contains boxes to allow for the reporting of qualified dividends (Box 1b) and post-May 5, 2003 capital gain distributions (Box 2b). Likewise, boxes have also been added to Form 1099-B for reporting post-May 5, 2003 profits or losses from regulated futures or currency contracts.1 Payments made in lieu of dividends (“substitute payments”) are not eligible for the lower rates applicable to qualified dividends.2 For the information reporting requirements for such payments, see Notice 2003-67;3 Announcement 2003-75;4 Treasury Regulation Section 1.6045-2(a)(3)(i); TD 9103.5

1. Announcement 2003-55, 2003-38 IRB 597.

2. H.R. Rep. No. 108-94, 108th Cong., 1st Sess. 31 n. 36 (2003).

3. 2003-40 IRB 752.

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