I did not send my shares in to
be exchanged. Why did I get a 1099B?
As a holder of unexchanged CNG stock you are entitled to receive $66.60 for
each share that you owned as of January 28, 2000, the effective date of the
CNG/Dominion merger. Because these funds have been available to you since that
time, they are being reported to you and to the Internal Revenue Service as
cash received during 2000.
Complete the Letter of Transmittal that was enclosed with
your 1099B. If there are no name changes or special delivery instructions please:
Insert the name and address as listed on the CNG stock
certificates.
Insert the certificate number(s) and number of shares
for each in the space provided. (If any of your certificates are lost, call
1-888-294-4106 for instructions.)
Sign the Letter of Transmittal in the block titled "Signature
Required/Signature of Registered Holder or Agent."
Send the Letter of Transmittal along with your stock certificate(s)
to the address shown on the Letter of Transmittal. We recommend registered
mail-properly insured with return receipt requested.
Allow about four weeks to receive your check.
If you need to provide special payment or special delivery
instructions, please carefully read and follow the instructions detailed on
the back of the Letter of Transmittal.
What happens if I don’t exchange my CNG
certificates? The exchange agent, ChaseMellon Shareholder Services, will not release
your funds to you until you turn in your stock certificates. Depending upon
the unclaimed property laws of your state, if your shares are still unexchanged
after a period of three to seven years, your certificate will be automatically
cancelled and funds for your shares will be turned over to the state in which
you reside. You or your heirs will then have to go through your state’s Department
of Unclaimed Property to recover the funds.
What is my cost basis for shares I exchanged
during the merger?
For the number of CNG shares exchanged, refer to the statement provided on the
check stub sent to you at the time of the exchange.
You should refer to your records to determine the cost basis
and holding period for your CNG shares. Shares acquired through dividend reinvestment
are treated as blocks of stock acquired at different times. To determine the
cost of shares purchased through reinvestment, you should refer to copies of
your statements. A computerized history of your reinvestment plan account is
not available, however, you may obtain copies of your statements by calling
EquiServe at 1-201-324-0313 or by writing to them at the following address:
EquiServe, c/o shareholder Services, P.O. Box 2500, Jersey
City, NJ 07303-2500. General price information is available by clicking on
CNG Share Price List.
I misplaced the information sheet that
was included with my 1099. How can I get another copy?
Replacement checks can be issued 10 days after the issuance of the original
check. Please call or write Dominion, Shareholder Administration informing us
of the loss.
I am a stock broker. How do I obtain
tax information related to the merger? Please refer to your CCH Capital Changes Reporter for counsels opinion
on the taxability for the merger of Dominion Resources, Inc. and Consolidated
Natural Gas Company. You can also get information by clicking on "CNG
Merger Tax Information."
Where can I go for more information?? For additional discussion of federal income tax consequences of the Dominion/CNG
merger, please refer to the section entitled "Material U.S. Federal Income
Tax Consequences" of the joint proxy statement/prospectus (FormS-4), filed
with the SEC on May 24, 1999.
I received a 1099 reporting the sale
of a fractional share of Dominion stock. How do I report this amount? In the exchange, cash was paid in lieu of a fractional Dominion share at
the rate of $40.625 per full share.
The cash-in-lieu amount was reported on a separate 1099-B.
This amount is reportable as a sale of a fractional share of Dominion stock
I received a 1099B. My stock certificate
is lost, what do I need to do? Please contact Mellon Investor Services at 1-888-294-4106 and let them know
your certificate is lost. Also, provide them with your name, address, and the
social security number on your account. An affidavit will be mailed to you that
you will need to sign and have notarized in order to get your shares exchanged
for cash.
How do I report the top-up amount? The top-up amount should not be considered separately for tax purposes.
You should consider the total cash received (cash in exchange for CNG
stock and cash top-up) when preparing your tax forms.
