SECTION 2. NOTICE 2003–79 and

NOTICE 2004–71

In November of 2003, the Treasury Department and the IRS issued Notice 2003–79, 2003–2 C.B. 1206, which provided guidance for persons required to make returns and provide statements under section 6042 of the Internal Revenue Code ( e.g., Form 1099-DIV) regarding distributions made in 2003 with respect to securities issued by a foreign corporation, and for individuals receiving such statements. Notice 2003–79 identified a series of separate determinations that must be made in order to determine whether a distribution with respect to a security issued by a foreign corporation is eligible for the reduced rates of tax under the 2003 Act. Notice 2003–79 provided simplified procedures to be used for 2003 information reporting of a distribution with respect to such a security. Notice 2003–79 also provided guidance regarding the determination as to whether a security (or an American depositary receipt in respect of such security) issued by a foreign corporation other than ordinary or common stock (such as preferred stock) is considered readily tradable on an established securities market in the United States for purposes of the 2003 Act.

In November of 2004, Treasury and the IRS issued Notice 2004–71, 2004–2 C.B. 793, which provided guidance for persons required to make returns and provide statements under section 6042 of the Internal Revenue Code regarding distributions made in 2004 with respect to securities issued by a foreign corporation, and for individuals receiving such statements. Notice 2004–71 generally provided that the simplified procedures and other rules contained in Notice 2003–79 were extended

to apply for 2004 information reporting of distributions with respect to securities issued by foreign corporations.