Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  Nicholls Timothy S
 2. Date of Event Requiring Statement (Month/Day/Year)
07/10/2007		 3. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL PAPER CO /NEW/ [IP]
(Last)
(First)
(Middle)
C/O INTERNATIONAL PAPER COMPANY, 6400 POPLAR AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President - Finance
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MEMPHIS, TN 38197		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 52,624 (1)
D
 
Common Stock 6,111 (1) (2)
I
By SSP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (right to buy) 01/11/2002 01/11/2010 Common Stock 3,300 $ 58.5 D  
Employee Stock Options (right to buy) 04/10/2003 04/10/2011 Common Stock 2,500 $ 35.05 D  
Employee Stock Options (right to buy) 10/09/2003 10/09/2011 Common Stock 2,500 $ 35 D  
Employee Stock Options (right to buy) 04/09/2004 04/09/2012 Common Stock 5,375 $ 41.4 D  
Employee Stock Options (right to buy) 07/12/2005 10/14/2013 Common Stock 9,000 $ 39.14 D  
Common Stock Units   (3)   (3) Common Stock 3,159 (1) $ 0 (3) I By DCSP

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Nicholls Timothy S
C/O INTERNATIONAL PAPER COMPANY
6400 POPLAR AVENUE
MEMPHIS, TN 38197		       Vice President - Finance  

Signatures

Rebecca A. Bouldien, Attorney-in-fact for Timothy S. Nicholls 07/18/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Share numbers are rounded.
(2) Represents shares of International Paper common stock held through the International Paper Salaried Savings Plan (SSP). This information is based on a plan statement as of July 8, 2007.
(3) Common stock units (units) held in the non-qualified International Paper Company Deferred Compensation Savings Plan (DCSP) represent one share of International Paper common stock. DCSP units shown reflect the reporting person's balance as of July 8, 2007. The number of units will vary as the price of the issuer's common stock varies. The units will be settled in cash upon termination of employment.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.