Instructions For Forms 1099-Int And 1099-Oid

WHFIT interest income information may be included in

1.6049-7(f)(2)(i). In addition, the statement furnished by a

summary totals reported to the IRS and the TIH.

REMIC must show, for each calendar quarter, the

Information about WHFIT interest income may also be

information specified in Regulations section 1.6049-7(f)

included in a composite statement furnished to the TIH.

(3). Also see Regulations section 1.6049-7(f)(3)(ii) for

information that may be required to be reported to a REIT

For more filing requirements, see the 2015 General

that holds a REMIC regular interest.

Instructions for Certain Information Returns.

Rules for REMICs, FASITs, and Issuers of CDOs

A single-class REMIC (as defined in Temporary

Regulations section 1.67-3T(a)(2)(ii)(B)) must include in

These reporting rules apply only to FASITs in

the statement the investment expenses paid or accrued

existence on October 22, 2004, to the extent that

during each calendar quarter by the REMIC for which the

regular interests issued by the FASIT before that

REMIC is allowed a deduction under section 212 and the

CAUTION

date continue to remain outstanding in accordance with

proportionate share of those investment expenses

the original terms of issue.

allocated to the regular interest holder.

REMICs, holders of ownership interests in FASITs,

The statement must be furnished to holders by March

issuers of CDOs, and any broker or middleman who holds

15. To meet the statement requirement, you may furnish a

as a nominee a REMIC or FASIT regular interest or CDO

copy of Form 1099-INT and a separate statement

must file Form 1099-INT. The form is used to report

containing the additional information to the REMIC or

interest of $10 or more, other than OID, accrued to a

FASIT regular interest holder or CDO holder.

REMIC or FASIT regular interest holder during the year or

paid to a holder of a CDO. If you are also reporting OID,

this interest and the OID can be reported on Form

For information about reporting income to REMIC

1099-OID. You do not have to file both Forms 1099-INT

residual interest holders, see the instructions for

and 1099-OID.

Schedule Q (Form 1066), Quarterly Notice to Residual

Interest Holder of REMIC Taxable Income or Net Loss

You are not required to file or issue Form 1099-INT for

Allocation, in the separate Instructions for Form 1066,

exempt recipients including, but not limited to, the

available at

following.

A corporation.

Form 8811 and Reporting by Brokers or

A broker.

Middlemen

A middleman/nominee.

A financial institution.

REMICs and issuers of CDOs must also file Form 8811,

Any IRA, Archer MSA, Medicare Advantage MSA, or

Information Return for Real Estate Mortgage Investment

HSA.

Conduits (REMICs) and Issuers of Collateralized Debt

A tax-exempt organization.

Obligations, within 30 days after the start-up date of the

REMIC or issue date of a CDO. The IRS will use the

For additional exempt recipients, see Regulations

information on Forms 8811 to update Pub. 938, Real

section 1.6049-7(c).

Estate Mortgage Investment Conduits (REMICs)

Reporting Information, for use by certain brokers,

Box 1. Interest Income

middlemen, corporations, and others specified in

Report in box 1 the amount of interest, other than OID,

Regulations section 1.6049-7(e)(4). Pub. 938 is available

accrued to each REMIC or FASIT regular interest holder

or paid to a CDO holder for the period during the year for

which the return is made. If you are a single-class REMIC

For the requirements that a REMIC or CDO issuer or a

(as defined in Temporary Regulations section 1.67-3T(a)

broker or middleman who holds a REMIC or FASIT

(2)(ii)(B)), increase the amount otherwise reportable in

regular interest or a CDO furnish certain information on

box 1 by the regular interest holder's share of investment

request, see Regulations sections 1.6049-7(e) and

expenses of the REMIC for the year. No amount should

1.6049-7(f)(7).

be reported in box 3.

Specific Instructions for Form

Box 5. Investment Expenses

1099-OID

Enter the regular interest holder's pro rata share of

File Form 1099-OID, Original Issue Discount, if the original

investment expenses deductible by a single-class REMIC.

issue discount (OID) includible in gross income is at least

$10 and you are any of the following:

Statements to Holders

An issuer with any bond outstanding or other evidence

For each Form 1099-INT you are required to file, you must

of indebtedness in registered or bearer form issued with

furnish a statement to the REMIC or FASIT regular

OID;

interest holder or CDO holder identified on the form. The

An issuer of a certificate of deposit (CD) made,

statement must contain the information shown on Form

purchased, or renewed after 1970 if the CD has OID and a

1099-INT, including the legend shown on Copy B of the

term of more than 1 year (see Caution, later);

official Form 1099-INT, and an indication that these items

A financial institution having other deposit

are being furnished to the IRS. The statement also must

arrangements, such as time deposits or bonus-savings

show the information specified in Regulations section

-5-

Instructions for Forms 1099-INT and 1099-OID (2015)

Instructions For Forms 1099-Int And 1099-Oid - 2015 Page 5

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