Instructions For Forms 1098-E And 1098-T - 2017 (Page 2 of 4) in pdf

Box 1. Student Loan Interest Received by

Certified by the borrower as a student loan incurred solely

to pay qualified higher education expenses. You may use

Lender

Form W-9S to obtain the certification.

Enter the interest you received on a student loan(s) during

Revolving accounts. Report interest paid on revolving

the calendar year. For loans made on or after September 1,

accounts, such as credit card accounts, only if the borrower

2004, you are required to include in box 1 payments of

certifies that all the loan proceeds are solely used to pay

interest as described in Regulations section 1.221-1(f).

qualified higher education expenses. You do not have to

Under that regulation, interest includes capitalized interest

verify the borrower's actual use of the funds. Do not report

and loan origination fees that represent charges for the use

interest on mixed use loans.

or forbearance of money. See Regulations section 1.221-1(f).

Loans under qualified plans. Do not report interest on

Box 2. Checkbox

loans made under a qualified employer plan, as defined in

Check this box if loan origination fees and/or capitalized

section 72(p)(4), or under a contract purchased under a

interest are not reported in box 1 for loans made before

qualified employer plan within the meaning of section 72(p)

September 1, 2004.

(5).

Additional information. For more information about

Specific Instructions for Form 1098-T

reporting student loan interest, see Regulations section

1.6050S-3.

File Form 1098-T, Tuition Statement, if you are an eligible

educational institution. You must file for each student you

Statements to borrowers. If you are required to file Form

enroll and for whom a reportable transaction is made. Also, if

1098-E, you must provide a statement or acceptable

you are an insurer, file Form 1098-T for each individual to

substitute, on paper or electronically, to the borrower. For

whom you made reimbursements or refunds of qualified

more information about the requirements to furnish a

tuition and related expenses.

statement to the borrower, see part M in the 2017 General

Instructions for Certain Information Returns.

Exceptions. You do not have to file Form 1098-T or furnish

Electronic delivery of Form 1098-E. Educational

a statement for:

institutions, insurers, and lenders may present the option to

Courses for which no academic credit is offered, even if

consent to receive Form 1098-E electronically as part of a

the student is otherwise enrolled in a degree program;

global “Consent To Do Business Electronically,” combining

Nonresident alien students, unless requested by the

consent for electronic delivery of Form 1098-E along with

student;

other institutional student business functions such as

Students whose qualified tuition and related expenses are

entirely waived or paid entirely with scholarships; and

admissions, registration, billings, and direct deposits.

Students for whom you do not maintain a separate

The global consent process must meet all the consent,

financial account and whose qualified tuition and related

disclosure, format, notice, and access period requirements

expenses are covered by a formal billing arrangement

for electronic furnishing of Forms 1098-E in accordance with

between an institution and the student's employer or a

the applicable regulations. For more information about the

governmental entity, such as the Department of Veterans

requirements to furnish a statement to each student, see part

Affairs or the Department of Defense.

M in the 2017 General Instructions for Certain Information

Returns.

Who must file. You must file Form 1098-T if you are an

eligible educational institution. An eligible educational

Truncating borrower’s taxpayer identification number

institution that is a governmental unit, or an agency or

(TIN) on payee statements. Pursuant to Treasury

instrumentality of a governmental unit, is subject to the

Regulations section 301.6109-4, all filers of Form 1098-E

reporting requirements of Form 1098-T. A designated officer

may truncate a borrower's TIN (social security number

or employee of the governmental entity must satisfy the

(SSN), individual taxpayer identification number (ITIN),

reporting requirements of Form 1098-T.

adoption taxpayer identification number (ATIN), or employer

If another person receives or collects payments of

identification number (EIN)) on payee statements. Truncation

is not allowed on any documents the filer files with the IRS. A

qualified tuition and related expenses on your behalf, the

recipient's/lender's TIN may not be truncated on any form.

other person must file Form 1098-T. However, if the other

See part J in the 2017 General Instructions for Certain

person does not possess the information necessary to

Information Returns.

comply with the reporting requirements of Form 1098-T, then

you must satisfy the reporting requirements of Form 1098-T.

Recipient's/lender's name, address, and telephone

Also, if you are an insurer engaged in a trade or business

number box. Enter the name, address, and telephone

of making refunds or reimbursements of qualified tuition and

number of the filer of Form 1098-E. Use this same name and

related expenses, you are required to file Form 1098-T. See

address on Form 1096, Annual Summary and Transmittal of

the instructions for box 10, later.

U.S. Information Returns.

Eligible educational institution. An eligible educational

Account number. The account number is required if you

institution is a college, university, vocational school, or other

have multiple accounts for a recipient for whom you are filing

postsecondary educational institution that is described in

more than one Form 1098-E. Additionally, the IRS

section 481 of the Higher Education Act of 1965 as in effect

encourages you to designate an account number for all

on August 5, 1997, and that is eligible to participate in the

Forms 1098-E that you file. See part L in the 2017 General

Department of Education's student aid programs. This

Instructions for Certain Information Returns.

includes most accredited public, nonprofit, and private

postsecondary institutions.

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Instructions for Forms 1098-E and 1098-T (2017)

Instructions For Forms 1098-E And 1098-T - 2017 Page 2

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