SECTION 4. EXPECTED GUIDANCE

FOR FUTURE YEARS

The Treasury Department and the IRS are developing detailed procedures for implementing the certification approach for information reporting outlined in section 5 of Notice 2003–79. The Treasury Department and the IRS intend shortly to issue guidance setting forth those detailed pro

1 Notice 2003–71, 2003–43 I.R.B. 922, and section 3.02 of this notice provide guidance regarding when a security is considered readily tradable on an established securities market in the United States for purposes of section 1(h)(11).

2 Notice 2003–69, 2003–42 I.R.B. 851, contains a list of qualifying treaties for this purpose.

3 Notice 2004–70, 2004–44 I.R.B. 724, provides guidance regarding the extent to which distributions, inclusions, and other amounts received by, or included in the income of, individual shareholders as ordinary income from foreign corporations subject to certain anti-deferral regimes may be treated as qualified dividend income for purposes of section 1(h)(11).

November 8, 2004 794 2004–45 I.R.B.

NOTE:

Following is a list of related instructions and forms for filing Form 1042–S Electronically/Magnetically:

• Current Instructions for Form 1042–S • Form 4419 — Application for Filing Information Returns Electronically/Magnetically • Form 4804 — Transmittal of Information Returns Reported Magnetically • Form 8508 — Request for Waiver From Filing Information Returns Magnetically • Form 8809 — Application for Extension of Time To File Information Returns • Notice 210 — Preparation Instructions for Media Labels • Publication 515 —Withholding of Tax on Nonresident Aliens and Foreign Corporations (for general information and

explanation of tax law associated with Form 1042–S)

The Internal Revenue Service (IRS), Enterprise Computing Center at Martinsburg (ECC-MTB) encourages filers to make copies of the blank forms in the back of this publication for future use. These forms can also be obtained by calling 1–800–TAX–FORM (1–800–829–3676). You can also download forms and publications from the IRS Web Site at www.irs.gov.

Rev. Proc. 2004–63

TABLE OF CONTENTS

Part A. General

SEC. 1. PURPOSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 797

Sec. 2. Nature of Changes—Current Year (Tax Year 2004 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 797