35 Miss. Code. R. 3-11-01-103
Amounts paid with respect to life insurance, endowment or annuity contracts which are to be included in gross income of the payee are required to be reported on information returns. Payments on such policies which are surrendered before maturity, or on lapsed policies and gifts need not be reported. Amounts of income which would constitute constructive receipt to the payee and be deemed to have been paid should also be reported. Fees for professional services paid to attorneys, physicians, and members of other professions come within the meaning of the term "fixed or determinable gains, profits and income" and are required to be reported on information returns. Amounts distributed or made available under employee's trusts to a beneficiary in any taxable year, and which have been contributed to the trust by the employer or represent earnings of the fund must be reported by the trustee.
35 Miss. Code. R. 3-11-01-103