club_cafe: Business Code

iras1 on

In a message dated 2/10/2004 5:39:15 PM Eastern Standard Time, nagler@bivio.biz writes:

Jim Thomas writes:
> Over on the NAIC treasurer's list it was mentioned that the
> correct Business Code for an Investment Club for the 1065 is
> 523910, not 525990. I notice that bivio uses the later.

I'm sorry for not getting back to you wsooner. When I go to irs.gov
and search for 523910, it comes up empty. 523900 might be a
possibility, but we'd like to know why 525990 is incorrect. (I
couldn't find the msg on the treasurer's list. Search on that site
doesn't seem to work the way I would expect it to.)

On http://www.irs.gov/pub/irs-pdf/i1065.pdf you'll find:

525990 Other Financial Vehicles (including closed-end investment
funds)

523900 Other Financial Investment Activities (including portfolio
management & investment advice)

Both seem legitimate codes for an investment club.

Thanks,
Rob

Forget the IRS site, check the US Census Bureau. Specifically

http://www.census.gov/epcd/naics02/def/ND523910.HTM#N523910

and

http://www.census.gov/epcd/naics02/def/ND525990.HTM#N525990

Ira Smilovitz

Rob Nagler on

IraS1@aol.com writes:
> Forget the IRS site, check the US Census Bureau. Specifically
> http://www.census.gov/epcd/naics02/def/ND523910.HTM#N523910
> and
> http://www.census.gov/epcd/naics02/def/ND525990.HTM#N525990

Ira, could you arrange for the IRS to update their site? ;-)

We'll change the number in next weekend's release.

Thanks for pointing it out.

Rob

Mail