OK I just received another 1099-INT today. I got one last week.
I have 2 PIERS accounts and so that explains why I got 2 1099 forms.
The amount that was reported is equal to 12.58% of what is owed to me, so this could not be interest money because we don't get paid that much for interest. So I wrote to Angela and although she could not confirm if this is interest money or the money still owed to PIERS, she confirmed that a 1099-B will be sent out soon to report this 12.58% amount and another 1099-INT will be also sent out to report 0.
So this is semi good news because there is a little more money to pay PIERS an additional 12.58% on top of the $7/share already reported. I think the amount that is due to PIERS (10.5 per share) will be lumped together with the interest money and reported as one amount on a 1099-B form.
Unfortunately I cannot answer your questions because our company did not prepare the data for the tax forms. All I know is that we are sending out corrected 1099 INT forms that will have zero amounts and sending a new 1099 B form to the PIERs holders. Please call the number on your tax form for your questions. 206-432-8732.
I am not sure if KCC was correct when they said they will send a corrected 1099-B because the 1099-INT was correct because it reported interest income. So unless there is enough money to pay the other 3.5 then I don't see any reason for sending out a 1099-B.
Yeah, Angela said they 're in a process and will send a corrected 1099-b (GOD KNOWS WHEN!) ; and then a beneficiary interest statement similar to last year sometime in April---what a mess, I can't go out of town on vacation b/c of this BS! ALSO UNTIL TODAY IS Thursday I've not received my 10099-int yet---lost in the mail again like the last time---