1099 Filing Sample Clauses

1099 Filing. 3.4.1.1. To the extent the Customer has provided the information described above, as well as any other information required by Form 1099 (including, but not limited to, the applicable distribution codes), the Bank will, with respect to Payees that are outside directors, independent contractors, or beneficiaries, (i) report amounts paid from the Account on Form 1099-MISC (Miscellaneous Income) or, if the Payee is a beneficiary and the Plan is a private-sector 457(b) plan, on Form 1099-R (Distributions from Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, etc.) and on comparable information returns that are required with respect to the States); and (ii) remit the portion of the Tax Reserve that relates to such returns to the IRS and to the taxing authorities of the States and file Form 945 (Annual Return of Withheld Federal Income Tax: For Withholding Reported on Forms 1099 and W-2G) and comparable returns that are required with respect to the States. 3.4.1.2. The Customer may direct the Bank to distribute the remainder of the Tax Reserve to the Customer to reimburse the Customer for remittances paid by the Customer to the appropriate taxing authorities.