Quote Originally Posted by salsero View Post
Doug can you be more clear on the issue of receiving a 1099 where all the checks have been redeemed in LM either by actually demand per 12 USC 411 OR with this phrase: Deposited for credit on account or exchanged for non-negotiable federal reserve notes of face value - 12 USC 95a, By John Doe. I believe both the actual statute 12 USC 411 OR the Deposited for credit .... of face value equal the same over all idea of not accepting FRNs. Thanks

The question remains, that both a W2 and 1099 are tax class 5 forms - for estate and gift tax classification.

12 USC 411 specifies the wording as "redeemed in lawful money on demand".

We must only make the demand, in present tense, IMO.

The Trustees must perform the redeeming, as they deem fit.

The other wording you mention appears to be presuming something has already happened, and is impinging on their domain. Let them alone to do their duty in their own good time, IMO.