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Last Updated: 12/15/2017

Municipal Bond Reporting Information (Interest on municipal bonds and Interest-dividends on federally tax-exempt mutual funds)

Registration Form

Municipal Bond Reporting is required when a person receives $10 or more of exempt interest or exempt interest dividends and pays as a nominee to an individual who is a resident of Minnesota. Any regulated investment company, bank, credit union, broker-dealer, or other investment firm that meets the $10 or more payment to a Minnesota resident must file an information return with the Minnesota Department of Revenue. (See Minnesota Statute 289A.12, subdivision 14.)

Complete the online reporting registration form to file an information return. After you submit the form, you will receive an email invitation to join our secure Virtual File Submission Room for uploading your information.

Submit Municipal Bond Information Electronically

Information returns for payments of tax-exempt or interest-dividends you made must be electronically transmitted to the department using our secure Virtual File Submission Room by June 1 of the following year. You must provide this information separately from other interest or dividend information returns that are generally due each year on March 31.

If the registered email address (user ID) is no longer valid, the online reporting registration form must be completed.

Reporting Information

Fact Sheet 19, Municipal Bond Reporting Information includes instructions for preparing your text file for transmission.

If you distribute any payments of interest on federally tax-exempt municipal bonds or interest-dividends on mutual funds, complete the online reporting registration form. Complete the form even if you did not make payments to an individual with a Minnesota address. Even if you are not required to submit information returns to Minnesota for the current year, complete the registration information so we can notify you on any future law changes regarding this requirement.

See Minnesota Statute 289A.12, subdivision 14 and Revenue Notice 91-17, Reporting Required of Regulated Investment Companies of Federally Tax-Exempt Interest Dividends and nominees paying tax-exempt interest on municipal bonds.

Questions?

If you have a municipal bond reporting question, email us at Revenue.MunicipalBondReporting@state.mn.us or call 651-556-5071.