• BPS IRS 1099 Notification #3

      • To
      • Clearing Member Firms; Back Office Managers; BPS Users
      • From
      • CME Clearing
      • #
      • 09-547
      • Notice Date
      • 09 December 2009
      • Effective Date
      • 09 December 2009
    • AS A REMINDER, NOVEMBER 30, 2009 MARKS THE END OF THE 2009 TAX YEAR FOR BROKERAGE. 
      This memo covers the entire 1099 process, including:
       
      ·         Year End Reports
      ·         Tax Adjustment Period
      ·         Backup Withholding
      ·         Firm 1099 Statements
      ·         BPS 1099 Processing Schedule
       
      YEAR-END REPORTS
       
      Preliminary CME and CBT 1099 Reports will be available on Monday, December 14, 2009 in MRS (Member Reporting System) as report named “Prelim Broker’s Yearly Banking Summary” which will reflect initial adjustments made by December 11, 2009. NYMEX and COMEX 1099 Reports will be available for pickup at the trading floor’s master pulpit. In BPS, firms can run the Tax Billing Group Details report to verify their tax details.
       
      Final CME and CBT 1099 Reports will be available on Monday, January 04, 2010 in MRS as “Final Broker’s Yearly Banking Summary”. NYMEX and COMEX 1099 Reports will be available for pickup at the trading floor’s master pulpit.
       

      For the full text of this advisory...

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