SECTION 1. PURPOSE

This revenue procedure permits combined information reporting by a successor business entity ( i.e., a corporation, partnership, or sole proprietorship) in certain situations following a merger or an acquisition and supersedes Rev. Proc. 90–57, 1990–2 C.B. 641 and Rev. Rul. 69–556, 1969–2 C.B. 242. This revenue procedure explains both the procedure otherwise required under the regulations (the “standard procedure”) and an elective procedure (the “alternative procedure”) for preparing and filing certain Forms 1042–S, all forms in the series 1098, 1099, and 5498, and Forms W-2G, in certain situations involving a successor business entity and a predecessor business entity ( i.e., a corporation, partnership, or sole proprietorship) when the successor acquires substantially all of the property (1) used in the trade or business of the predecessor (including certain situations when one or more corporations are absorbed by another corporation pursuant to a merger agreement), or (2) used in a separate unit of a trade or business of the predecessor.