What is Form 1099-CAP?

Form 1099-CAP, Corporate Distribution of Stock, is used to report distributions of stock by a corporation to its shareholders.

What is Form 1099-CAP used for?

Form 1099-CAP is used to report the acquisition of control or a substantial change in capital structure of a corporation.

What is the purpose of reporting on Form 1099-CAP?

The purpose of reporting on Form 1099-CAP is to provide information about distributions of stock by a corporation to its shareholders, and to assist the IRS in tax administration.

When is the due date for filing Form 1099-CAP?

The due date for filing Form 1099-CAP is January 31 of the year following the calendar year in which the distribution occurred.

What are the penalties for failing to file Form 1099-CAP?

Penalties under section 6652(l) apply if a corporation fails to file information returns under section 6043(c), and can reach a maximum of $100,000. Additionally, failure to file electronically includes penalties.

What is the purpose of Form 8937?

Form 8937 is used to report significant modifications to the terms of a security or debt instrument, such as changes in interest rates or conversion features.

What is the due date for filing Form 1099-CAP?

The due date for filing Form 1099-CAP is January 31 of the year following the transaction.

Who is required to file Form 1099-CAP?

A corporation that engages in a reorganization, merger, consolidation, or acquisition of stock or securities and results in the issuance of new shares must file Form 1099-CAP.

Which forms should be used to report the sale or exchange of mutual funds?

Form 1099-B is used to report transactions involving certain types of securities, including mutual funds.

What is the account number required for?

The account number is required if a reporting corporation has multiple accounts for a recipient for whom they are filing more than one Form 1099-CAP.

What is truncating a recipient’s TIN?

Under Regulations section 301.6109-4, corporations required to file Form 1099-CAP may truncate a recipient's TIN on payee statements.

What is the purpose of Form 1099-B?

Form 1099-B is used to report transactions involving certain types of securities, including stocks, bonds, and mutual funds.

What is the purpose of Form 8806?

Form 8806 is used to report acquisitions or disposals of securities, including corporate actions such as redemptions, dividends, and splits.

What should corporations do if they fail to meet the filing requirements?

If a corporation (transferor) transfers all or substantially all of its assets to another entity (transferee) and is required to file Form 1099-CAP, the transferor must satisfy the reporting requirements. If the transferor fails to file Form 1099-CAP, then the transferee must meet the filing requirements. If the filing requirements are not met by either the transferor or transferee, then both are jointly and severally liable for the applicable penalties.

What are the penalties for failure to file Form 1099-CAP?

The penalties under section 6652(l) for failure to file information returns under section 6043(c) apply. For purposes of the section 6652(l) penalty, Forms 8806 and all Forms 1099-CAP required to be filed are treated as one return. Thus, the penalty will not exceed $500 per day the failure continues, up to a maximum of $100,000.

Which entities are exempt from reporting on Form 1099-CAP?

Exempt recipients include certain financial institutions, foreign governments and international organizations, and governmental units in the United States. Also, shareholders who receive stock or other consideration as compensation for services they performed as an employee or independent contractor are exempt.

Form 1099-CAP

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Changes in Corporate Control and Capital Structure

Rev. September 2019

Form 1099-CAP is a tax form for reporting Changes in Corporate Control and Capital Structure to the Internal Revenue Service (IRS). The form, which comes in three parts A, B, and C, must be filed by both the corporation and the shareholder. Part A is for internal use by the IRS, part B is for the shareholder, and part C is for the corporation. The form reports the date of sale or exchange, aggregate amount received, number of shares exchanged, and classes of stock exchanged. Shareholders cannot claim a loss based on the amount reported in box 2. Corporations must file Form 1099-CAP by January 31 following the calendar year of the change and furnish it to shareholders. The form is required if the corporation has had a change in control or substantial change in capital structure, and the shareholder may be required to recognize gain from the receipt of cash, stock, or other property that was exchanged for the corporation's stock.

Instructions

Form 1099-CAP Instructions - Instructions for Form 1099-CAP, Changes in Corporate Control and Capital Structure

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Form 1099-CAP

FAQ

What information is required to be reported on Form 1099-CAP?
Form 1099-CAP requires information such as the date of sale or exchange, aggregate amount received, number of shares exchanged, and classes of stock exchanged.
What is Form 1099-CAP?
Form 1099-CAP, Corporate Distribution of Stock, is used to report distributions of stock by a corporation to its shareholders.
What is Form 1099-CAP used for?
Form 1099-CAP is used to report the acquisition of control or a substantial change in capital structure of a corporation.
What is the purpose of reporting on Form 1099-CAP?
The purpose of reporting on Form 1099-CAP is to provide information about distributions of stock by a corporation to its shareholders, and to assist the IRS in tax administration.
When is the due date for filing Form 1099-CAP?
The due date for filing Form 1099-CAP is January 31 of the year following the calendar year in which the distribution occurred.
What are the penalties for failing to file Form 1099-CAP?
Penalties under section 6652(l) apply if a corporation fails to file information returns under section 6043(c), and can reach a maximum of $100,000. Additionally, failure to file electronically includes penalties.
What is the purpose of Form 8937?
Form 8937 is used to report significant modifications to the terms of a security or debt instrument, such as changes in interest rates or conversion features.
What is the due date for filing Form 1099-CAP?
The due date for filing Form 1099-CAP is January 31 of the year following the transaction.
Who is required to file Form 1099-CAP?
A corporation that engages in a reorganization, merger, consolidation, or acquisition of stock or securities and results in the issuance of new shares must file Form 1099-CAP.
Which forms should be used to report the sale or exchange of mutual funds?
Form 1099-B is used to report transactions involving certain types of securities, including mutual funds.
What is the account number required for?
The account number is required if a reporting corporation has multiple accounts for a recipient for whom they are filing more than one Form 1099-CAP.
What is truncating a recipient’s TIN?
Under Regulations section 301.6109-4, corporations required to file Form 1099-CAP may truncate a recipient's TIN on payee statements.
What is the purpose of Form 1099-B?
Form 1099-B is used to report transactions involving certain types of securities, including stocks, bonds, and mutual funds.
What is the purpose of Form 8806?
Form 8806 is used to report acquisitions or disposals of securities, including corporate actions such as redemptions, dividends, and splits.
What should corporations do if they fail to meet the filing requirements?
If a corporation (transferor) transfers all or substantially all of its assets to another entity (transferee) and is required to file Form 1099-CAP, the transferor must satisfy the reporting requirements. If the transferor fails to file Form 1099-CAP, then the transferee must meet the filing requirements. If the filing requirements are not met by either the transferor or transferee, then both are jointly and severally liable for the applicable penalties.
What are the penalties for failure to file Form 1099-CAP?
The penalties under section 6652(l) for failure to file information returns under section 6043(c) apply. For purposes of the section 6652(l) penalty, Forms 8806 and all Forms 1099-CAP required to be filed are treated as one return. Thus, the penalty will not exceed $500 per day the failure continues, up to a maximum of $100,000.
Which entities are exempt from reporting on Form 1099-CAP?
Exempt recipients include certain financial institutions, foreign governments and international organizations, and governmental units in the United States. Also, shareholders who receive stock or other consideration as compensation for services they performed as an employee or independent contractor are exempt.

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Tax forms

Form 1099-CAP is one of Tax forms that are documents used to report information about an individual's or business's income, deductions, and tax liability to the relevant tax authority. These forms are necessary to comply with tax laws and fulfill tax obligations. Tax forms vary depending on the country and the specific tax requirements in place. Here are some common types of tax forms:

Individual Tax Forms: These forms are used by individual taxpayers to report their personal income and claim deductions, credits, and exemptions. Examples include the 1040 form in the United States or the Self-Assessment Tax Return form in the United Kingdom.

Business Tax Forms: Business tax forms are used by companies, partnerships, or self-employed individuals to report their business income, expenses, and other tax-related information. Examples include the Schedule C form (Profit or Loss from Business) in the United States or the CT600 form (Company Tax Return) in the United Kingdom.

Payroll Tax Forms: These forms are used by employers to report the wages, salaries, and taxes withheld from their employees' paychecks. Examples include the W-2 form in the United States or the P60 form in the United Kingdom.

Sales Tax Forms: Sales tax forms are used by businesses to report and remit sales tax collected on taxable goods or services. The specific sales tax forms vary by jurisdiction.

Value Added Tax (VAT) Forms: VAT forms are used in countries that impose a value-added tax to report and remit VAT collected on sales and claim VAT credits for purchases. Examples include the VAT return forms used in many countries.

Estimated Tax Forms: Estimated tax forms are used to report and pay estimated taxes on income that is not subject to withholding, such as self-employment income or investment income.

These are just a few examples of the numerous tax forms that may exist. The specific forms required depend on the tax laws and regulations in your country or jurisdiction. It is important to consult the tax authority's guidelines or seek professional advice to determine which forms are applicable to your situation.

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