Rev. Proc. 57-40

SECTION 1. PURPOSE.

The purpose of this Revenue Procedure is to state the policy of the Internal Revenue Service relating to its acceptance of substitutes for Form 1099, U. S. Information Return, for filing purposes in lieu of the official form printed by the Government Printing Office.

SEC. 2. SPECIFICATIONS.

Substitutes for Form 1099 may be manufactured, with slight variations of format, and used without specific approval of the Internal Revenue Service if the following conditions are met:

.01 Color and quality of ink and paper.--The substitutes must be prepared with black ink on white paper, both of quality as good as that used by the Government. The paper must be of substantially the same weight and texture as that used in the official forms.

.02 Typography.--The type should not be smaller than the corresponding type on the official form and, as nearly as possible, should be of the same font.

.03 Format.--The format should be substantially the same as the official form. If, however, the form is to be used to report dividend payments only, and it is desired to eliminate the columns and their headings shown on the official form, the notation "Dividend" or "Dividend Payments" should be conspicuously shown on the form in lieu of such columns and headings.

.04 Dimensions.--The official form is 7 7/8 inches by 3 1/2 inches. Substitute forms may vary in width from 7 inches to 8 inches, and in depth from 3 1/6 inches to 3 2/3 inches. If the substitute forms are in continuous or strip form, they must be burst and stripped to conform to the size specified before they are filed.

SEC. 3. QUARTERLY FILING OF DIVIDEND REPORTS.

In accordance with procedure previously authorized, the reports on Form 1099 may be filed on a quarterly basis. Such reports should be forwarded in accordance with instructions on the reverse of Form 1099, accompanied by a letter of transmittal showing the quarter covered and the number of forms submitted. Form 1096, U. S. Annual Information Return, should not be filed at the same time the reports for the first three quarters are forwarded, but should be prepared for the full calendar year involved and forwarded with the reports for the last quarter of such year, on or before February 28 of the succeeding year.

SEC. 4. BLACK AND WHITE PROOFS.

Reproduction proofs of Forms 1096, 1099 and 1099L are available. The Internal Revenue Service, upon application, will furnish one set of black and white proofs to be used as the reproducible media in the printing of forms. These proofs, for which annual requests are received, will be supplied free of charge to all concerns in the forms' reproduction business.

SEC. 5. PROCEDURE, PROPOSED SUBSTITUTE FORMS.

Proposed substitute forms, which do not meet the conditions stated above should be forwarded by letter, addressed to the Commissioner of Internal Revenue, Attention: O:C:PF, Washington 25, D. C., for approval.

SEC. 6. EFFECT ON OTHER DOCUMENTS.

This Revenue Procedure supersedes Revenue Procedure 55-13, C. B. 1955-2, 917.