Electronic Payee Statements

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Internal Revenue Service 26 CFR Parts 1, 31, 301, and 602 [TD 9114] RIN 1545-AY50 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations and removal of temporary regulations. SUMMARY: This document contains final regulations relating to the voluntary electronic furnishing of statements on Forms W-2, “Wage and Tax Statement,” under sections 6041 and 6051, and statements on Forms 1098-T, “Tuition Statement,” and Forms 1098-E, “Student Loan Interest Statement,” under section 6050S. These final regulations affect businesses, other for-profit institutions, and eligible educational institutions that wish to furnish these required statements electronically. The regulations will also affect individuals (recipients), principally employees, students, and borrowers, who consent to receive these statements electronically. DATES: Effective Date: These regulations are effective February 18, 2004. Applicability Date : These regulations apply to statements and reports required to be furnished after February 13, 2004. The rules relating to maintenance of access to Web site statements also apply to statements and reports required to be furnished after December 31, 2003. FOR FURTHER INFORMATION CONTACT: Michael E. Hara at (202) 622-4910 (not a toll free number). SUPPLEMENTARY INFORMATION: Paperwork Reduction Act The collection of information contained in these final regulations has been reviewed and approved by …