Instructions For Forms 1099-Int And 1099-Oid - 2015 printable pdf download

2015

Department of the Treasury

Internal Revenue Service

Instructions for Forms

1099-INT and 1099-OID

Interest Income and Original Issue Discount

Section references are to the Internal Revenue Code

Nonresident aliens. If you pay U.S. bank deposit

unless otherwise noted.

interest of at least $10 to certain nonresident alien

Future Developments

individuals, report the interest on Form 1042-S, Foreign

Person's U.S. Source Income Subject to Withholding. To

For the latest information about developments related to

determine whether an information return is required for

Forms 1099-INT and 1099-OID and their instructions,

original issue discount, see Regulations sections

such as legislation enacted after they were published, go

1.6049-5(f) and 1.6049-8(a). This interest may be subject

to backup withholding. See the Instructions for Form

What's New

1042-S. Also see Rev. Proc. 2012-24, 2012-20 I.R.B. 913,

available at

Reporting bond premium on tax-exempt bonds. Box

Specific Instructions for Form

13 was added to Form 1099-INT to report bond premium

on tax-exempt bonds. All later boxes were renumbered.

1099-INT

FATCA filing requirements of certain foreign finan-

File Form 1099-INT, Interest Income, for each person:

cial institutions (FFIs). Beginning in 2014, an FFI with a

1. To whom you paid amounts reportable in boxes 1,

chapter 4 requirement to report a U.S. account maintained

3, and 8 of at least $10 (or at least $600 of interest paid in

by the FFI that is held by a specified U.S. person may

the course of your trade or business described in the

satisfy this requirement by reporting on Form(s) 1099

instructions for Box 1. Interest Income, later),

under the election described in Regulations section

1.1471-4(d)(5)(i)(A). Additionally, a U.S. payor may satisfy

2. For whom you withheld and paid any foreign tax on

its chapter 4 requirement to report such a U.S. account by

interest, or

reporting on Form(s) 1099. See Regulations section

3. From whom you withheld (and did not refund) any

1.1471-4(d)(2)(iii)(A). Forms 1099-INT and 1099-OID are

federal income tax under the backup withholding rules

among the Forms 1099 used for such purpose. New

regardless of the amount of the payment.

check boxes were added to Forms 1099-INT and

1099-OID to identify an FFI filing this form to satisfy its

Report only interest payments made in the course of

your trade or business including federal, state, and local

chapter 4 reporting requirement.

government agencies and activities deemed nonprofit, or

Reminders

for which you were a nominee/middleman. Report

tax-exempt interest that is not original issue discount

General Instructions. In addition to these specific

(OID) on Form 1099-INT. You do not need to report

instructions, you should also use the 2015 General

tax-exempt interest that is OID. Report interest that is

Instructions for Certain Information Returns. Those

taxable OID in box 1 or 8 of Form 1099-OID, Original

general instructions include information about the

Issue Discount, not on Form 1099-INT. Report

following topics.

exempt-interest dividends from a mutual fund or other

Who must file (nominee/middleman; certain FFIs and

regulated investment company (RIC) on Form 1099-DIV.

U.S. payors that report on Form(s) 1099 to satisfy their

chapter 4 reporting requirements).

Exceptions to reporting. No Form 1099-INT must be

When and where to file.

filed for payments made to exempt recipients or for

Electronic reporting requirements.

interest excluded from reporting.

Corrected and void returns.

Exempt recipients. You are not required to file Form

1099-INT for payments made to certain payees including

Statements to recipients.

but not limited to a corporation, a tax-exempt organization,

Taxpayer identification numbers.

any individual retirement arrangement (IRA), Archer

Backup withholding.

medical savings account (MSA), Medicare Advantage

Penalties.

MSA, health savings account (HSA), a U.S. agency, a

The definitions of terms applicable for chapter 4

state, the District of Columbia, a U.S. possession, a

purposes that are referenced in these instructions.

registered securities or commodities dealer, nominees or

Instructions For Forms 1099-Int And 1099-Oid - 2015

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