Sec. 10-24.30. Types of accounts to be reported.
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/il/chapter-305/act-5/10-24-30A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10-24.30. Types of accounts to be reported. The reporting requirements of Section 10-24.5 regarding accounts as defined in Section 10-24 apply to individual accounts, joint accounts, and sole proprietorship accounts. In the case of a joint account, the account holder or owner shall be deemed to be the primary account holder or owner established by the financial institution in accordance with federal 1099 reporting requirements.