Part IV. Items of General Interest

interim statement) describing the transaction to the Service. In addition, the regulations require the corporation to file Form 1099–CAP with the Service with respect to each shareholder of record that is not an exempt recipient and to furnish the Form 1099–CAP to each such shareholder. The regulations also require a broker, that holds stock in the corporation on behalf of actual owners, to file Form 1099–CAP with the Service with respect to each actual owner and to furnish Form 1099–CAP to each such owner. For transactions occurring in 2002, corporations must furnish Form 1099–CAP to shareholders on or before January 31, 2003, and brokers must furnish Form 1099–CAP to actual owners on or before February 28, 2003.