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Electronic Payee Statements (IRS)

Federal Register, February 18, 2004, Page 7567-7574

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.

Further Information

Michael E. Hara at (202) 622-4910 (not a toll free number).

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