Instructions For Form 1099-Q - 2015
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1
22015
Department of the Treasury
Internal Revenue Service
Instructions for
Form 1099-Q
Payments From Qualified Education Programs (Under Sections 529 and 530)
Section references are to the Internal Revenue Code unless
Truncating recipient’s identification number on payee
otherwise noted.
statements. Pursuant to Treasury Regulations sections
Future Developments
301.6109-4, all filers of this form may truncate a recipient’s
identification number (social security number (SSN),
For the latest information about developments related to
individual taxpayer identification number (ITIN), adoption
Form 1099-Q and its instructions, such as legislation enacted
taxpayer identification number (ATIN), or employer
after they were published, go to
identification number (EIN)) on payee statements. Truncation
is not allowed on any documents the filer files with the IRS. A
Reminder
payer/ trustee's identification number may not be truncated
In addition to these specific instructions, you should also use
on any form. See part J in the 2015 General Instructions for
the 2015 General Instructions for Certain Information
Certain Information Returns.
Returns. Those general instructions include information
Payer's Name and Federal Identification
about the following topics.
Who must file (nominee/middleman).
Number
When and where to file.
QTP. For the payer's/trustee's name and federal
Electronic reporting requirements.
identification number, enter the name and employer
Corrected and void returns.
identification number (EIN) of the QTP. For a program
Statements to recipients.
established and maintained by a state that uses the EIN of
Taxpayer identification numbers.
the state, enter the name of the state on the first name line
Backup withholding.
and the name of the program on the second name line.
Penalties.
Coverdell ESA. Enter the name and EIN of the trustee.
Other general topics.
You can get the general instructions at
Recipient's Name and Social Security Number
form1099q
or by calling 1-800-TAX-FORM
(SSN)
(1-800-829-3676).
QTP. List the designated beneficiary as the recipient only if
Specific Instructions
the distribution is made (a) directly to the designated
beneficiary, or (b) to an eligible educational institution for the
File Form 1099-Q, Payments From Qualified Education
benefit of the designated beneficiary. Otherwise, list the
Programs (Under Sections 529 and 530), if you (a) are an
account owner as the recipient of the distribution. Enter the
officer or an employee, or the designee of an officer or
SSN for the applicable recipient.
employee, having control of a program established by a state
Coverdell ESA. Enter the name and SSN of the designated
or eligible educational institution; and (b) made a distribution
beneficiary as the recipient.
from a qualified tuition program (QTP). A trustee of a
Coverdell education savings account (ESA) must file Form
Account Number
1099-Q to report distributions made from Coverdell ESAs.
The account number is required if you have multiple
Do not file Form 1099-Q for a change in the name of the
accounts for a recipient for whom you are filing more than
designated beneficiary on a QTP account if the new
one Form 1099-Q. Additionally, the IRS encourages you to
beneficiary is a member of the former beneficiary's family.
designate an account number for all Forms 1099-Q that you
For a Coverdell ESA, the new beneficiary must be a member
file. See part L in the 2015 General Instructions for Certain
of the designated beneficiary's family and be under age 30
Information Returns.
(except beneficiaries with special needs).
Box 1. Gross Distribution
Family members of the designated beneficiary include the
beneficiary's spouse. Also included are the beneficiary's
Gross distributions from a QTP, whether in cash or in-kind,
children, stepchildren, foster children, and their descendants;
include amounts for tuition credits or certificates, payment
siblings and their children; parents, their siblings, and
vouchers, tuition waivers, or other similar items. Gross
ancestors; stepparents; in-laws; the spouse of any of the
distributions also include a refund to the account owner or
foregoing; and any first cousin of the designated beneficiary.
the designated beneficiary, or to the beneficiary upon death
or disability. For more information on reporting distributions,
Statements to Recipients
see Proposed Regulations section 1.529-4.
If you are required to file Form 1099-Q, you also must furnish
Gross distributions from a Coverdell ESA include amounts
a statement to the recipient. Furnish a copy of Form 1099-Q
for a refund, a payment upon death or disability, or a
or an acceptable substitute statement to each recipient. See
withdrawal of excess contributions plus earnings.
part M in the 2015 General Instructions for Certain
Information Returns.
Sep 18, 2014
Cat. No. 32260M
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