Instructions For Form 1099-B - 2017 (Page 6 of 11) in pdf

Transactions involving corporate members or clients of a

Issuer Returns for Actions Affecting Basis

barter exchange may be reported on an aggregate basis.

An issuer of a specified security (defined later) that takes

Member information. In the recipient area of Form

an organizational action that affects the basis of the

security must file an issuer return on Form 8937. This

1099-B, enter information about the member or client that

applies to organizational actions after 2010 (after 2011 if

provided the property or services in the exchange.

the stock is in a regulated investment company, and after

Exceptions. Barter exchanges are not required to file

2013 for debt instruments, options, and securities futures

Form 1099-B for:

contracts). The return is due on or before the 45th day

1. Exchanges through a barter exchange having fewer

following the organizational action or, if earlier, January 15

than 100 transactions during the year,

of the next calendar year.

2. Exempt foreign persons as defined in Regulations

An issuer is not required to file this return if, by the due

section 1.6045-1(g)(1), or

date, the issuer posts the return with the required

3. Exchanges involving property or services with a fair

information in a readily accessible format in an area of its

market value of less than $1.00.

primary public website dedicated to this purpose and, for

10 years, keeps the return accessible to the public on its

Statements to Recipients

primary public website or the primary public website of

any successor organization. An issuer may electronically

If you are required to file Form 1099-B, you must provide a

statement to the recipient. For more information about the

sign a return that is publicly reported on the issuer’s public

requirement to furnish a statement to the recipient, see

website. The electronic signature must identify the

part M in the 2017 General Instructions for Certain

individual who is signing the return.

Information Returns.

Effect on Form 1099-B and transfer statements. In

preparing Form 1099-B or a transfer statement, you must

Truncating recipient's taxpayer identification

number (TIN) on payee statements. Pursuant to

take into account all the information reported by the issuer

Treasury Regulations section 301.6109-4, all filers of this

of the security on a statement that the issuer furnishes to

form may truncate a recipient’s TIN (social security

you or is deemed to furnish to you, unless the issuer

number (SSN), individual taxpayer identification number

statement is incomplete or you know it is incorrect. Take

(ITIN), adoption taxpayer identification number (ATIN), or

into account only those organizational actions taken by

employer identification number (EIN)) on payee

the issuer of the security during the period you held

custody of the security (beginning with the date on which

statements. Truncation is not allowed on any documents

you received a transferred security). If you receive or are

the filer files with the IRS. A filer's TIN may not be

deemed to receive an issuer statement after filing Form

truncated on any form. See part J in the 2017 General

Instructions for Certain Information Returns.

1099-B, you must file a corrected Form 1099-B within 30

days of receiving the issuer statement. But you do not

have to file a corrected Form 1099-B if you receive the

2nd TIN Not.

issuer statement more than 3 years after you filed the

You may enter an “X” in this box if you were notified by the

original Form 1099-B. If you receive or are deemed to

IRS twice within 3 calendar years that the payee provided

receive an issuer statement after furnishing a transfer

an incorrect TIN. If you mark this box, the IRS will not

statement for a covered security, you must furnish a

send you any further notices about this account.

corrected transfer statement within 15 days of receiving

the issuer statement. But you do not have to furnish a

However, if you received both IRS notices in the same

corrected transfer statement if you receive the issuer

year, or if you received them in different years but they

statement more than 18 months after you furnished the

both related to information returns filed for the same year,

original transfer statement.

do not check the box at this time. For purposes of the

two-notices-in-3-years rule, you are considered to have

More information. For more information, see Form

received one notice and you are not required to send a

8937 and its instructions, and Regulations section

second “B” notice to the taxpayer on receipt of the second

1.6045B-1.

notice. See part N in the 2017 General Instructions for

Barter Exchanges

Certain Information Returns for more information.

A barter exchange is any person or organization with

For more information on the TIN Matching System

members or clients that contract with each other (or with

offered by the IRS, see the 2017 General

TIP

the barter exchange) to jointly trade or barter property or

Instructions for Certain Information Returns.

services. The term does not include arrangements that

provide solely for the informal exchange of similar

CUSIP Number

services on a noncommercial basis. Persons who do not

contract with a barter exchange but who trade services do

For transactional reporting by brokers, enter the CUSIP

not file Form 1099-B. However, they may have to file Form

(Committee on Uniform Security Identification

1099-MISC.

Procedures) number of the security or other applicable

identifying number.

Transactional/aggregate reporting. Barter exchanges

involving noncorporate members or clients must report

each transaction on a separate Form 1099-B.

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Instructions for Form 1099-B (2017)

Instructions For Form 1099-B - 2017 Page 6

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