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Municipal Bond Reporting Information

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(Interest on municipal bonds and Interest-dividends on federally tax-exempt mutual funds)

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.)

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