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IRS revised list of PBA (Principal Business Activity) Codes
I was reading the instructions for the 2012 Form 1065 and
noticed under the "What's New" section that the IRS has a
revised list of PBA codes.

Code 523910, the code printed on our Form 1065, no longer
exists.
Code 523900 (Other Financial Investment Activities -
including portfolio management & investment advice) looks to
be the closest fit.

Can we continue to use Code 523910 or should we use another
code?

Thank you!
Cynthia Bogue
Cynthia,

The NAICS codes are used to aggregate income statistics by type of business. 533910 is a subset of 523900 (each additional non-zero digit is a smaller division of the preceding digits), so 523900 would be the appropriate choice.

Ira Smilovitz


On Sun, Mar 24, 2013 at 10:26 AM, CYNTHIA BOGUE <cbogue@apac.com> wrote:
I was reading the instructions for the 2012 Form 1065 and
noticed under the "What's New" section that the IRS has a
revised list of PBA codes.

Code 523910, the code printed on our Form 1065, no longer
exists.
Code 523900 (Other Financial Investment Activities -
including portfolio management & investment advice) looks to
be the closest fit.

Can we continue to use Code 523910 or should we use another
code?

Thank you!
Cynthia Bogue