Entries of Mutuial Funds Dividends?

[jnd2546]

Client of mine rec'd her statement from TR Price and there's a paragraph in their that indicates the IRS requires entries of mutual funds with dividends, qual dividends, cap gains to be entered at the fund level and not the totals for the family. She also has statements from 3 other mutual funds families that make no mention of this and provided the summaries on the 1099 Div ( along with the specific fund detail as backup, of course.

Who's right?  TR Price or others?   First I've ever seen this. 

[rbynaker · Accepted solution]

It depends.  Some funds report to the IRS for each separate holding.  You can tell by the EINs reported on the 1099.  I see this a lot with American Funds.  They'll send one "form" but report multiple funds with different EINs on each line.

Rick

[jnd2546]

I see. So it depends on whether funds in the family have identical or unique EIN's.

Got it!  Thanks!