June 8, 2010
Draft Forms 3921 and 3922
Preview of Forms 3921 and 3922
The IRS has released drafts of Forms 3921 and 3922 and related instructions to the NASPP, for us to share with our members. These forms are drafts only and could be subject to change. The rumor I’ve heard is that the final forms won’t be available until August, but I have not confirmed this with anyone at the IRS.
I haven’t heard anything as to when the electronic file specifications in Publication 1220 will be updated to reflect the final 6039 regs. But, for the past two years, the IRS has posted a new edition of Publication 1220 in July, so hopefully we’ll see another update in the next couple of months.
The IRS has provided the draft forms to the NASPP as a courtesy, in light of the short period between when the final forms will be available and the filing deadline. The IRS requests that the drafts be kept within our industry community.
I also have no information as to when the guidelines on substitute forms in Publication 1179 will be updated for the Section 6039 statements. I took a look at Publication 1179 recently and it is completely unclear as to which guidelines should apply to the 6039 statements. But the good news is that an IRS representative has indicated to us that generally any statement within reason that includes all of the required information will likely be acceptable.
NASPP alert announcing the draft forms
Draft Instructions to the forms
Draft Form 3921
Draft Form 3922
I owe a big thank you to Kaye Thomas of Fairmark Press and author of “Consider Your Options” for coming through with a contact at the IRS that was able to send me the draft forms.
Thank You on Cost-Basis Reporting
I also owe a thank you to Andrew Schwartz at BNY Mellon Shareowner Services, who has taught me just about everything I know on the new cost-basis reporting requirements and was a big help with last week’s blog entry on them. Don’t miss our interview with Andrew on cost-basis reporting in the upcoming issue of The NASPP Advisor.
18th Annual NASPP Conference
Don’t miss the 18th Annual NASPP Conference from Sept 20-23 in Chicago. We just posted this year’s program and it is phenomenal–we’ve planned over 40 sessions on critical and timely topics, like the final Section 6039 regs and cost-basis reporting. Register for the Conference today.
NASPP “To Do” List
We have so much going on here at the NASPP that it can be hard to keep track of it all, so I keep an ongoing “to do” list for you here in my blog.
- Register for the 18th Annual NASPP Conference.
- Complete the Compliance-O-Meter quiz on Excel Skills.
- Take the “Question of the Week” challenge.
- Renew your NASPP membership for 2010 (if you aren’t an NASPP member, join today).
- Attend local NASPP chapter meetings in DC/VA/MD, the Twin Cities, and Western PA.
– Barbara