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TREAS/IRS

RIN: 1545-BI66

Publication ID: Fall 2009

Title: ●Basis Reporting by Securities Brokers
Abstract: This action proposes new and amended regulations under 26 CFR part 1 to provide guidance regarding the requirement that brokers begin reporting the basis of securities sold by customers on Form 1099-B. The requirement for basis reporting was added by section 403 of the Energy Improvement and Extension Act of 2008 enacted on October 3, 2008. The Act also amended section 1012 to provide new rules for determining the basis of certain securities subject to the new reporting requirements. The new reporting requirements and basis rules generally begin to take effect on January 1, 2011.
Agency: Department of the Treasury(TREAS)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: Undetermined	Unfunded Mandates: Undetermined
CFR Citation: 26 CFR 1
Legal Authority: 26 USC 1012    26 USC 6045    26 USC 6045A    26 USC 6045B    26 USC 7805    ...

Legal Deadline:  None

Timetable: Action Date FR Cite NPRM  12/00/2009

Additional Information: REG-101896-09 Drafting attorney: Stephen J. Schaeffer (202) 622-4910 Reviewing attorney: James C. Gibbons (202) 622-4910 CC: PA: Branch 1
Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Stephen J. Schaeffer Attorney Department of the Treasury Internal Revenue Service Room 5531, 1111 Constitution Avenue NW., Washington, DC 20224 Phone:202 622-4910 Fax:202 927-9248 Email: stephen.j.schaeffer@irscounsel.treas.gov