[Code of Federal Regulations]
[Title 26, Volume 5]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.408-5]

[Page 494-495]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.408-5  Annual reports by trustees or issuers.

    (a) In general. The trustee of an individual retirement account or 
the issuer of an individual retirement annuity shall make annual 
calendar year reports concerning the status of the account or annuity. 
The report shall contain the information required in paragraph (b) and 
be furnished or filed in the manner and time specified in paragraph (c).
    (b) Information required to be included in the annual reports. The 
annual calendar year report shall contain the following information for 
transactions occurring during the calendar year--
    (1) The amount of contributions;

[[Page 495]]

    (2) The amount of distributions;
    (3) In the case of an endowment contract, the amount of the premium 
paid allocable to the cost of life insurance;
    (4) The name and address of the trustee or issuer; and
    (5) Such other information as the Commissioner may require.
    (c) Manner and time for filing. (1) The annual report shall be 
furnished to the individual on whose behalf the account is established 
or in whose name the annuity is purchased (or the beneficiary of the 
individual or owner). The report shall be furnished on or before the 
30th day of June following the calendar year for which the report is 
required.
    (2) The Commissioner may require the annual report to be filed with 
the Service at the time the Commissioner specifies.
    (d) Penalties. Section 6693 prescribes penalties for failure to file 
the annual report.
    (e) Effective date. This section shall apply to reports for calendar 
years after 1978.
    (f) Reports for years prior to 1979. For years prior to 1979, a 
trustee or issuer shall make reports in the time and manner as the 
Commissioner requires.

[T.D. 7714, 45 FR 52795, Aug. 8, 1980]