Rev. Rul. 69-556

Two corporations were parties to a merger agreement under which the surviving corporation became the owner of all the assets of the absorbed corporation and assumed all its liabilities. Pursuant to the agreement, the latter corporation was dissolved.

During the premerger portion of the calendar year in which the merger was effected, both corporations made payments of the type subject to information reporting under sections 6041, 6042, and 6049 of the Internal Revenue Code of 1954 and the regulations thereunder. During the postmerger portion of the calendar year, the surviving corporation continued to make such payments.

Held, the information reporting requirements of the specified sections of the Code will be met if the surviving corporation files Forms 1096 and 1099 for payments of both corporations required to be reported. The Forms 1099 should show the aggregate of amounts paid by the corporations to each payee in respect of each type of payment.

I.T. 1313, C.B. I-1, 324 (1922), is hereby superseded, since the position stated therein is restated under current law in this Revenue Ruling.

¹ Prepared pursuant to Rev. Proc. 67-6, C.B. 1967-1, 576.