Instructions For Forms 1099-Sa And 5498-Sa - 2006 (Page 13 of 25) in pdf

2. Make reasonably certain the person accessing the

M. Statements to Recipients (Borrowers,

system and submitting the form is the person identified on

Form W-9.

Debtors, Donors, Insureds, Participants,

3. Provide the same information as the paper Form W-9.

4. Be able to supply a hard copy of the electronic Form W-9

Payers/Borrowers, Policyholders,

if the IRS requests it.

Students, Transferors, or Winners on

5. Require as the final entry in the submission an electronic

signature by the payee whose name is on Form W-9 that

Certain Forms)

authenticates and verifies the submission. The electronic

If you are required to file Forms 1099, 1098, 5498, or W-2G,

signature must be under penalties of perjury and the perjury

you must also furnish statements to recipients containing the

statement must contain the language of the paper Form W-9.

information furnished to the IRS and, in some cases, additional

information. Be sure that the statements you provide to

For Forms W-9 that are not required to be signed, the

recipients are clear and legible.

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electronic system need not provide for an electronic

signature or a perjury statement.

Substitute statements. If you are not using the official IRS

form to furnish statements to recipients, see Pub. 1179 for

Additional requirements may apply. See Announcement

specific rules about providing “substitute” statements to

98-27 that is available on page 30 of Internal Revenue Bulletin

recipients. Generally, a substitute is any statement other than

1998-15 at and

Copy B of the official form. You may develop them yourself or

Announcement 2001-91, which is available on page 221 of

buy them from a private printer. However, the substitutes must

Internal Revenue Bulletin 2001-36 at

comply with the format and content requirements specified in

irb01-36.pdf.

Pub. 1179.

Electronic submission of Forms W-9S. See the Instructions

Telephone number. You are required to include the telephone

for Forms 1098-E and 1098-T.

number of a person to contact on the following statements to

recipients: W-2G, 1098, 1098-C, 1098-E, 1098-T, 1099-A,

1099-B, 1099-CAP, 1099-DIV, 1099-G (excluding state and

K. Filer’s Name, Identification Number,

local income tax refunds), 1099-H, 1099-INT, 1099-LTC,

1099-MISC (excluding fishing boat proceeds), 1099-OID,

and Address

1099-PATR, 1099-Q, and 1099-S. You may include the

The TIN for filers of information returns, including sole

telephone number in any conspicuous place on the statements.

proprietors and nominees/middlemen, is the federal EIN.

This number must provide direct access to an individual who

However, sole proprietors and nominees/middlemen who are

can answer questions about the statement. Although not

not otherwise required to have an EIN should use their SSNs. A

required, if you report on other Forms 1099 and 5498, you are

sole proprietor is not required to have an EIN unless he or she

encouraged to furnish telephone numbers.

has a Keogh plan or must file excise or employment tax returns.

Rules for furnishing statements. Different rules apply to

See Pub. 583, Starting a Business and Keeping Records.

furnishing statements to recipients depending on the type of

The filer’s name and TIN should be consistent with the name

payment (or other information) you are reporting and the form

and TIN used on the filer’s other tax returns. The name of the

you are filing.

filer’s paying agent or service bureau must not be used in place

If you are reporting a payment that includes noncash

of the name of the filer.

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property, show the fair market value of the property at

If you do not have an EIN, you may apply for one online. Go

the time of payment. Although, generally, you are not

to the IRS website and click on

required to report payments smaller than the minimum

the link for EINs. You may also apply by calling 1-800-829-4933

described for a form, you may prefer, for economy and your

or by faxing or mailing Form SS-4 to the IRS. See the

own convenience, to file Copies A for all payments. The IRS

Instructions for Form SS-4 for more information.

encourages this.

Enter your street address including the room, suite, or other

Report the type of payment information as described below:

unit number on the forms.

(a) Dividend, interest, and royalty payments; (b) Real estate

transactions; and (c) Other information.

L. Account Number Box on Forms

Dividend, interest, and royalty payments. For payments of

dividends under section 6042 (reported on Form 1099-DIV) or

Use the account number box, when provided, on Forms 1099,

patronage dividends under section 6044 (reported on Form

1098, and 5498 for an account number designation. The

1099-PATR), interest (including original issue discount and

account number is required if you have multiple accounts for a

tax-exempt interest) under section 6049 (reported on Form

recipient for whom you are filing more than one information

1099-INT or 1099-OID), or royalties under section 6050N

return of the same type. Additionally, the IRS encourages you

(reported on Form 1099-MISC or 1099-S), you are required to

to include the recipient’s account number on paper forms if your

furnish an official IRS Form 1099 or an acceptable substitute

system of records uses the account number rather than the

Form 1099 to a recipient either in person, by First-Class Mail to

name or TIN for identification purposes. Also, the IRS will

the recipient’s last known address, or electronically (see

include the account number in future notices to you about

Electronic recipient statements on page GEN-11). Statements

backup withholding. If you are filing electronically or

may be sent by intraoffice mail if you use intraoffice mail to

magnetically, see Pub. 1220.

send account information and other correspondence to the

The account number may be a checking account number,

recipient.

savings account number, serial number, or any other number

Statement mailing requirements for Forms 1099-DIV,

you assign to the payee that is unique and will distinguish the

1099-INT, 1099-OID, and 1099-PATR, and forms reporting

specific account. This number must not appear anywhere else

royalties only. The following statement mailing requirements

on the form, and this box may not be used for any other item

apply only to Forms 1099-DIV (except for section 404(k)

unless the separate instructions indicate otherwise. Using

dividends), 1099-INT (except for interest reportable in the

unique account numbers ensures that corrected information

course of your trade or business under section 6041),

returns will be processed accurately.

1099-OID, 1099-PATR, and timber royalties reported under

If you are using window envelopes to mail statements to

section 6050N (on Form 1099-MISC or 1099-S). The mailing

recipients and using reduced rate mail, be sure the account

must contain the official IRS Form 1099 or an acceptable

number does not appear in the window. The Postal Service

substitute and may also contain the following enclosures: (a)

may not accept these for reduced rate mail.

Form W-2, applicable Form W-8, Form W-9, or other Forms

GEN-9

Instructions For Forms 1099-Sa And 5498-Sa - 2006 Page 13

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