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The Deadline to E-file Form (formType) is March 31, 2025.E-File Now
E-File Form 1099-OID Online
Prepare and file 1099-OID securely with TaxBandits to accurately report original issue discount (OID) income.
The Bandit Commitment
Ensuring peace of mind for every
1099-OID you file.
Filing a 1099-OID isn’t just about submission! It’s about getting the data right, validating it thoroughly, and owning the right outcome.
The Bandit Commitment defines how TaxBandits approaches compliance: preventing errors before filing, supporting corrections & resubmissions when needed, and standing accountable through acceptance and beyond.
Getting the right data in
Compliance starts with clean, validated data—long before your 1099-OID
is transmitted.
Guided, end-to-end compliance
Federal filing, state compliance, and form distribution—handled together with complete guidance.
No-cost corrections & retransmissions
Corrections & retransmissions for your 1099-OID are included with your
filing fee.
Money-back guarantee
If a 1099-OID cannot be accepted or is a duplicate, the filing fee can be refunded.
Form 1099-OID: Key Insights
- Form 1099-OID reports taxable interest income from bonds, treasury securities, and other debt instruments issued at a discount.
- Form 1099-OID must be filed by any entity that issues debt instruments with an Original Issue Discount (OID), which includes financial institutions, corporations and government entities, and investment firms.
- Form 1099-OID must be filed electronically by March 31, 2026, and furnish recipient copies by February 2, 2026.
Outstanding Features that Make 1099-OID Filing Easier!
Explore the powerful features that effortlessly make TaxBandits the ultimate solution for e-filing Form 1099-OID.
Exclusive Pro Features Designed for Tax Professionals
Enhance your tax filing process and optimize workflows with powerful, tailored tools designed for tax professionals.
Bulk Filing Made Easy
Easily manage filings for a few or thousands of clients. Import data via our bulk upload templates, accounting software integrations and API integration to file effortlessly.
Client Management
Effortlessly manage all your clients in one place. Keep track of clients and their filings, streamline your workflow with an intuitive, easy-to-use interface.
Secure, Branded Client Portal
Get a client portal that reflects your brand while ensuring top-tier security where your clients can upload documents, view forms, and stay informed about the filing progress.
Team Management
Add unlimited team members to streamline workflow and collaboration. Assign roles like preparer, approver, and transmitter based on filing responsibilities.
Flexible Payment Options
Get the benefit of volume-based pricing discounts based on the number of forms you file. The more forms you file, the more discounts you get. And, choose from BanditCash, prepaid credits, that best fit your needs.
Custom Reports
Access detailed reports to gain insights into team performance and client filings. Leverage in-depth analytics to make informed decisions and enhance productivity.
For high-volume filing, call us at (704) 684-4758 for customized pricing!
Seamless 1099-OID Filing at Scale, Built for Enterprises
Manage high-volume 1099-OID filing with customizable workflows, approval controls, and enterprise-grade support.
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Seamless data ingestion at scale
Bring in data through integrations, APIs, bulk uploads, or custom templates—designed to fit your existing systems.
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Custom requirements, fully supported
Tailor our system to accommodate complex, enterprise-specific compliance needs and operational requirements (such as SSO setup).
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Personalized branding options
Customize recipient portals and email communications to align seamlessly with your brand identity.
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Streamlined workflow management
Invite teams, assign precise roles, and delegate filing responsibilities with clear ownership and approval controls.
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Enterprise-grade security and support
Benefit from robust security controls, priority assistance, and a dedicated account manager who understands your needs.
Ready to get started with TaxBandits?
Information Required to E-file Form 1099-OID Online
Here is the following information required to file Form 1099-OID Online
Payer Details:
Name, TIN, and Address
Recipient Details:
Name, TIN/Social Security, and Address
Original Issue Discount Information:
This includes,- Taxable OID amount
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Qualified interest paid or credited during
the year - Early withdrawal penalty
- Market Discount
- Acquisition Premium
- Original issue discount on U.S. Treasuryn obligations
- Investment Expenses
- Bond Premium
- Tax-exempt OID
Federal Income Tax Withheld
State Information:
State name, state identification number, and state income tax withheld.
Create your free TaxBandits account to start e-filing Form 1099-OID today!
How to E-file Form 1099-OID Online with TaxBandits
TaxBandits offers flexible options for completing 1099-OID filings. Choose your preferred data import methods to get started and file with ease.
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Step 1: Enter Form Information
Fill out your 1099-OID form by entering the required information in the respective fields.
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Step 2: Complete State Information
Provide state-specific information on Form 1099-OID. Complete the Reconciliation Form if required.
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Step 3: Opt-in to Recipient Copy Distribution
Let TaxBandits distribute the recipient copies through postal mail, online access, or both, whichever method works best for your recipients.
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Step 4: Review and Transmit
Review the form summary and transmit the forms to the IRS and state agencies.
We'll email you updates about the status of your forms. You can also track the status directly from your dashboard.
Ready to E-file Form 1099-OID with the IRS and State?
Our Customer Reviews
L
- Luis Collazo
Excellent Step by Step process and easy to go back and make edits....
J
- Jay Polonsky
Very easy navigation going forward and backwards. I usually have trouble online with confusing instructions. Yours is very easy.
A
- Allen Cohen
Easy and reasonably priced. Great customer service!
I
- Igor Mandryka
I’m quite impressed, especially in comparison with other sites from the IRS list I reviewed as well. Well done. Thank you.
Frequently Asked Questions About Filing Form 1099-OID Online
What is Form 1099-OID?
Form 1099-OID (Original Issue Discount) reports interest income from certain types of debt instruments issued at a discount. The "original issue discount" refers to the difference between the bond’s face value and its discounted issue price, which accrues as taxable interest over time.
Who is required to File Form 1099-OID?
The Form 1099-OID is generally filed by brokerage companies and similar financial institutions. The following scenarios should prompt the filing of a Form 1099-OID:
- Paying someone an Original Issue Discount of $10 or more.
- If backup withholding of federal income tax was performed on someone, but they never received a refund.
- Anytime there was foreign tax withholding for an Original Issue Discount made to someone.
When is the deadline to file Form 1099-OID?
There are a few different deadlines for Form 1099-OID. The deadline to distribute recipient copies is January 31st. The deadline to file paper copies with the IRS is February 28th, and the deadline to file electronic copies with the IRS is
March 31st.
If the deadline falls over a weekend or on a federal holiday, the deadline automatically becomes the next business day.
What are the penalties for not filing Form 1099-OID?
There are potential penalties for filing Form 1099-OID late. Like other IRS Information Returns, the IRS could charge penalties ranging from $60 to $680 per form. This will depend on how late the form is filed and based on the business size. Learn More about 1099-OID penalties.
How can I apply for an extension to file Form 1099-OID?
You can apply for an extension to file Form 1099-OID by submitting Form 8809, Application for Extension of Time to File Information Returns, to the IRS, which provides a 30-day automatic extension.
Helpful Resources for Form 1099-OID
What is Form 1099-OID?
Form 1099-OID Instructions
Form 1099-OID Penalty
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