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Are there any other report requirements?

For tax years beginning January 1, 2011, Form RPD- 41283, Annual Summary of Oil and Gas Proceeds Withholding Tax, is no longer required to be mailed to the Department. Form RPD-41283 should be completed and retained by the remitter. Form RPD-41283 reconciles the total oil and gas proceeds withheld and reported on Form RPD-41284 Quarterly Oil and Gas Proceeds Withholding Tax Return, and the amounts withheld from the remittees.

The remitter must provide to each recipient an annual statement of withholding on or before February 15 of the following year. The statement must be in a form prescribed by TRD. Remitters may use federal Form 1099-MISC, Miscellaneous Income Information Return, or state Form RPD-41285, Annual Statement of Withholding of Oil and Gas Proceeds.

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