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 income, deductions, and tax liability to the relevant tax authority. These forms are an essential part of the tax filing process and are used to ensure individuals and businesses comply with tax laws and accurately calculate their tax obligations.

The specific tax forms required can vary depending on factors such as an individual's filing status, sources of income, and the country's tax laws. However, here are some common types of tax forms:

Individual Income Tax Forms: These forms, such as the 1040 series in the United States, are used by individuals to report their income, claim deductions and credits, and calculate their tax liability.

Business Tax Forms: Businesses, including sole proprietorships, partnerships, corporations, and self-employed individuals, may have to file various forms to report their income, expenses, and taxes owed. Examples include Schedule C (Profit or Loss from Business) and Form 1120 (U.S. Corporation Income Tax Return).

Employment Tax Forms: Employers are required to report employee wages and withhold and remit payroll taxes. Forms such as W-2 (Wage and Tax Statement) and 941 (Employer's Quarterly Federal Tax Return) are used for this purpose.

Investment and Retirement Account Forms: These forms are used to report investment income, capital gains, and losses, as well as contributions and distributions from retirement accounts. Examples include Form 1099-DIV (Dividends and Distributions) and Form 5498 (IRA Contribution Information).

Estate and Gift Tax Forms: When a person passes away or makes significant gifts, specific forms such as Form 706 (United States Estate (and Generation-Skipping Transfer) Tax Return) and Form 709 (United States Gift (and Generation-Skipping Transfer) Tax Return) are used to report and calculate any applicable estate or gift taxes.

It is important to note that tax laws and forms can change over time, so individuals and businesses should consult the relevant tax authority or seek professional tax advice to ensure compliance with the current requirements.

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