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This bulletin describes the remaining 2000 TEFRA Processing Activities for ATOM and outlines additional processing instructions. An ATOM TEFRA Processing Schedule detailing all important deadlines is provided on page 3. The topics include the following: 1. ATOM Printing Cost 2. Tax Adjustments 3. Back-up Withholding 4. Printing of 1099 Misc. Statements 1) 1099 ATOM Printing Cost The processing of TEFRA Data for brokers paid through the ATOM system by your firm is free to all participating firms. However, the cost of printing and the cost of the special forms used for the 1099 Misc. statements will be $1.00 per set and minimum request of one set is required for each broker. 2) Tax Adjustments Tax adjustments can be made for any broker listed on the Firm 1099 – Misc. Information Register (BFR00062). If it is necessary to make tax adjustments to a deleted or inactive broker on ATOM, you must send a written request to the Board of Trade Clearing Corporation's Business Systems Group. Changes or corrections to deleted or inactive brokers on ATOM must be done through the Board of Trade Clearing Corporation. The ATOM 1099 Information Register will show separate tax data for brokers who have changed their Tax Identification Number (TIN) anytime during 2000. If you need to make changes or corrections to Year to Date Earnings for a broker's old Tax Identification Number you must send a written request to the Board of Trade Clearing Corporation's Business Systems Department. Corrections to dollar amount for deleted brokers, inactive brokers or a broker who has changed his Tax Identification Number during 2000 must be requested in writing to Business Systems, Attention: Matt Walsh. ATOM is a registered trademark of the Board of Trade Clearing Corporation. 3) Back-up Withholding Back-up withholding for a Broker is not supported through the ATOM system. If your firm wants to report back-up withholding amounts for any brokers, your firm must reduce (debit) year to date earnings on ATOM to zero. Your firm must manually prepare 1099 Misc. Statements to the brokers and to the IRS. 4) Printing of 1099 Misc Statements 1099 Misc. Statements will be available for pick up on Tuesday, January 16, 2001. Firms will be required to pick up and sign off on a statement from the Board of Trade Clearing Corporation's Business Systems, Suite 1430. Brokers who are not on the ATOM system are considered to be test brokers and no 1099 Misc. statements will be printed. Tax adjustments to test brokers can be made through the ATOM system, however, tax adjustments will not cause the ATOM system to produce 1099 Misc. Statements for test brokers. Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
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