What additional documents and information will the Service request from the taxpayer when resolving transactions described in Notice 2003-54?
A.3 In addition to the documents and information required by the Form 13750, taxpayers resolving transactions described in Notice 2003-54 can expect the Service to request the following documents and information: • All returns of the taxpayer (Forms 1040), the grantor trust that invested in the common trust fund (Forms 1041), and any pass-through entities (Forms 1120S or 1065) between the grantor trust and the taxpayer, for all years affected by the transaction, and all amended returns for those years; and • A statement explaining how the investment in the common trust fund was or will be closed out, along with a schedule listing the amount and date of all distributions made by the common trust fund directly or indirectly to the taxpayer. The Service may also request other documents and information not listed above. Top of Page 5.
