Rev. Proc. 57-4

SECTION 1. PURPOSE.

The purpose of this Revenue Procedure is to state the practice of the Internal Revenue Service relative to the acceptance of substitutes for Form 1042S, U. S. Annual Information Statement of Income Paid During 1957 Subject to Chapter 3, Internal Revenue Code, for filing purposes in lieu of the official form furnished by the Service.

SEC. 2. SPECIFICATIONS.

.01 Substitutes for Form 1042S may be privately printed with slight variations in format, and used without specific approval of the Internal Revenue Service if the conditions enumerated in below section 3 are met.

.02 The fourth copy of the form is included in the official assembly for the convenience of the withholding agent. Although there is no requirement that privately printed substitute forms include a fourth copy, withholding agents may find it desirable to make and retain such a copy.

SEC. 3. CONDITIONS.

.01 Quality of paper.--The substitute forms must be printed on paper of quality as good as that used by the Government. The paper must be of substantially the same weight and texture as that used in the official form.

02. Typography.--The type may not be smaller than the corresponding type on the official form and must be as nearly as possible of the same font.

.03 Format.--The substitute forms must provide spaces for all the items (numbered 1 to 11) that are provided on Form 1042S.

.04 Dimensions.--The official form is eight inches wide by three and one-half inches deep, exclusive of a half-inch snap stub on the left side of the form. The substitute forms may vary in width from seven to eight and one-half inches (exclusive of snap-stub), and in depth from three and one-third inches to three and two-third inches. The snap feature is not required on substitutes.

.05 Carbonized forms or "spot carbons."--Carbonized forms and "spot carbons" are not permissible. Interleaved carbon, if used, must be of good quality to preclude smudging and, preferably, black.

.06 The Government Printing Office symbols.--The Government Printing Office symbols must be omitted.

SEC. 4. ADDITIONAL INSTRUCTIONS.

.01 Arrangement of assembly.--The parts of the assembly shall be arranged as follows: Original and duplicate, "For Internal Revenue"; triplicate "For payee"; and the quadruplicate copy "For Withholding Agent".

.02 Substitutes previously approved.--Substitutes which furnish all information required on Form 1042S and which have been previously approved by the Internal Revenue Service will be accepted without further approval. Previously approved substitutes which do not fully comply with specifications as to size will continue to be accepted for the present. A reasonable amount of time will be permitted for correction of any existing differences in size specifications.

SEC. 5. ALTERNATIVE METHODS.

.01 Listing investment income for custodial accounts.--Listing all investment income for one payee on one sheet will be permitted without prior approval, providing the following conditions are met:

a. Not more than one payee's income may be covered by one sheet. The payee's name and address must be listed at the top of each sheet.

b. All of the information required on Form 1042S must be furnished and the gross amount of income paid and the tax withheld must be indicated.

c. The name of the foreign country, the nature of the income, and the withholding rate must be clearly shown.

d. The total width of the sheet must not exceed eight and one-half inches.

e. The list shall be submitted to the Internal Revenue Service, in duplicate, and treated as a Form 1042S for summarizing and filing purposes.

.02 Copy for payee.--If complete information as to the amount of income paid and tax withheld has been furnished to the payee with the dividend check, or in any other manner, it will not be necessary to furnish the triplicate copy of Form 1042S to the payee.

SEC. 6. SUBSTITUTES NOT MEETING ABOVE CONDITIONS.

Proposed substitute forms which do not meet the conditions stated above should be forwarded by letter to the Director of International Operations, Internal Revenue Service, Attention IOD:C:CRP, Washington 25, D. C.