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E-File Form 1099-SB Online to Report Life Insurance Contract Details
Import your data, review built-in checks, and e-file Form 1099-SB with the IRS, then deliver seller copies through your preferred distribution method.
From $0.80/form at volume. Free corrections and retransmissions. Rated 4.9 by 52,784 filers.
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Form 1099-SB: What You Need to Know
Form 1099-SB is used by life insurance contract issuers to report a seller's investment in the contract and the surrender amount when an interest in a life insurance contract is transferred in a reportable policy sale or to a foreign person.
Issuers must file Form 1099-SB for each applicable seller and furnish a copy to the seller when the reporting requirements apply.
One Platform, Built for However You File Form 1099-SB
Whether you're filing one form or ten thousand, TaxBandits fits the way you already work.
For Insurance Providers
Filing It Yourself
Filing your first 1099-SB? We walk you through every box.
- Built-In W-9 Collection
- Real-Time TIN Matching
- AI Assistant
- Live Customer Support
For Tax Professionals
Filing for Clients
Manage every client's filing from one dashboard.
- Multi-Client Dashboard
- Role-Based Team Access
- Bulk Filing
- Branded Client Portal
For Insurance Carriers / Enterprises
Filing at Scale
Bring data from your own systems and file in bulk.
- Custom Data Ingestion
- Complex Compliance Support
- API Access
- Dedicated Support
Ready to streamline your 1099-SB filing?
Everything You Need for Filing 1099-SB Forms
Manage every stage of Form 1099-SB filing, from collecting seller information to delivering form copies, in one place.
Bulk Upload
Use our CSV template to import your 1099-SB data or upload your own file as is.
W-9 Collection & TIN Matching
Collect seller tax information and verify TINs against IRS records before filing.
Smart Audit & Review
Identify missing information and potential filing issues before submitting your forms.
IRS Business Validation
Check business information against current IRS requirements before filing.
Share Forms for Review
Share draft forms with your team for review before submission.
Federal Filing
Submit your federal 1099-SB forms securely through TaxBandits.
Schedule Filing
Prepare your forms ahead of time and choose when to transmit them.
Free Retransmission
Correct rejected returns and retransmit them without additional filing fees.
10-Year Storage
Keep filed 1099-SB copies securely accessible for up to ten years.
AI & Live Support
Get filing assistance from BanditAI or connect with a live representative.
Postal Mailing
Mail seller copies directly and track their delivery from dispatch to doorstep.
Recipient Portal
Give sellers secure, lifetime access to view and download their forms.
Smart Mail
Automatically mail a physical copy when a seller does not view their online form.
Print & Mail Yourself
Download seller copies and manage printing and mailing yourself.
Foreign Mailing
Send seller copies securely to sellers located outside the U.S.
Attach Supporting Documents
Include supporting documents with the seller copy when required.
Our Trusted Partners & Integrations for 1099-SB E-Filing
Connect with the tools you already use.
Automate End-to-End 1099-SB Filing With
Our API
Connect our API to your existing software to automate Form 1099-SB filing without changing your workflow or entering data manually. Collect seller information, validate TINs, and e-file Form 1099-SB at year-end.
POST /v1/Form1099
Exclusive Tools Built for Tax Professionals and High-Volume Form 1099-SB Filing
When one client handles life insurance contracts, and the next manages multiple policy transfers, keeping every seller, contract detail, and filing status organized shouldn't mean rebuilding your process for each one.
Bulk Filing
Import through bulk templates or API, regardless of how many clients or forms you manage.
Client Management
Manage client filings, form volumes, and filing statuses from one place without switching between spreadsheets.
Branded Client Portal
Give each client a portal and communications that reflect your firm's brand, not ours.
Team Management
Add team members and assign preparer, approver, and transmitter roles based on their responsibilities.
Flexible Payment Options
Get volume-based discounts as your filing count grows, with prepaid credits available for flexible payment.
Custom Reports
Access detailed reports on team activity and client filings to track performance and identify bottlenecks.
For high-volume filing, call (704) 684-4758 for custom pricing.
What Information Is Required to E-File Form 1099-SB Online
Gather these details before you start, and e-file Form 1099-SB with TaxBandits in minutes.
Issuer Details
Name, TIN, and address.
Seller Details
Name, TIN, and address.
Contract Details
Policy number and applicable life insurance contract information
Reportable Amounts
Seller's investment in the contract, Surrender amount
Get started with TaxBandits to report your Form 1099-SB online!
How to E-File Form 1099-SB Online with TaxBandits
TaxBandits gives you flexible ways to bring in your Form 1099-SB data, review each return, and complete filing from one workflow.
Import and Validate
Bring in your data via a CSV template or your own file, then review checks before submission.
CSV Templates
Integration Options
Bulk Upload
File with IRS
Submit your form to the IRS, with real-time acknowledgment from the IRS.
1099-SB
Validate & Review
Submit to IRS
Track Filing Status
Distribute Seller Copies
Send seller copies by mail, through the online portal, or both.
Ready to e-file Form 1099-SB with the IRS?
THE BANDIT COMMITMENT
Ensuring Peace of Mind for Every Form 1099-SB You File
Filing Form 1099-SB involves more than submitting contract information. The Bandit Commitment reflects how TaxBandits supports your filing from preparation through completion.
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Getting the right data in
Validate issuer and seller information before you submit your 1099-SB forms.
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Guided, end-to-end compliance
Federal filing and sellers copy distribution are managed together.
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No-cost corrections and retransmissions
Corrections and retransmissions are included at no extra cost.
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Money-back guarantee
If a 1099-SB cannot be accepted or was filed in duplicate, the filing fee is refunded.
Get the Industry's Best Pricing for Quick and Accurate 1099-SB Filing
Pricing per form based on volume
| No. of Forms | 1-10 | 11-100 | 101-250 | 251-500 | 501-2000 |
| Federal Filing | $2.75 | $1.75 | $1.15 | $1.00 | $0.80 |
Add-on
Price
USPS Address Validation
FREE
TIN Matching
$0.35 / TIN
Online Access
$0.50/form
Postal Mailing
$1.85/form
Postal (International)
$4.99/form
Postal + Online (Combo) 10% OFF
$2.12/form
Calculate Your Federal Filing Cost
Estimated Total
$2.75
For Bulk Filers
Filing more than 2,000 forms?
Frequently Asked Questions to File 1099-SB Online
A reportable policy sale (RPS) occurs when a life insurance policy, or an interest in it, is transferred to another party for valuable consideration.
In simple terms, when someone buys a life insurance policy from another person rather than from an insurance company, it qualifies as an RPS and triggers 1099-SB filing requirements.
Generally, the issuer of a life insurance contract must file Form 1099-SB when either of the following occurs:
- The issuer receives a statement from an acquirer reporting a reportable policy sale, such as Form 1099-LS.
- The issuer receives notice from another source of a transfer of the life insurance contract to a foreign person.
Certain exceptions may apply under the IRS regulations.
The IRS may charge $60 to $340 per return for late or incorrect Form 1099-SB filings. Intentional disregard can result in a penalty of $680, with no annual maximum.
The other tiers are capped annually — for returns due in 2027, $244,500 to $1,397,000 for small businesses (average annual gross receipts of $5 million or less) and $698,500 to $4,191,500 for larger filers. Amounts are indexed for inflation each year.
| How late | Per form (returns due 2027) |
|---|---|
| Filed within 30 days | $60 |
| More than 30 days late, by August 1 | $130 |
| After August 1, or not filed | $340 |
| Intentional disregard | $680 |
Both forms relate to reportable life insurance policy sales, but they serve different purposes and are filed by different parties.
| Form 1099-SB | Form 1099-LS |
|---|---|
| Purpose: Reports the seller's investment in the life insurance contract and surrender amount | Purpose: Reports a reportable life insurance policy sale |
| Filed by: Life insurance contract issuer | Filed by: Acquirer |
| Reports: Seller's investment in the contract and surrender amount | Reports: Seller, acquirer, and reportable policy sale information |
Filing Form 1099-LS Too?
Reportable policy sales may require Form 1099-LS from the acquirer. Learn more about e-filing Form 1099-LS with TaxBandits.
The IRS uses these values to determine how the policy sale may affect the tax treatment of any future payouts from the contract. Inaccurate values here can cause downstream tax complications for the seller.
The issuer must furnish a statement to the seller when Form 1099-SB is required. Copy B of Form 1099-SB may be used to provide the statement to the seller.
Seller copies are due by February 1, 2027. The IRS filing deadline is March 1, 2027, for paper returns and March 31, 2027, for electronic returns. If any of these dates fall on a weekend or holiday, the deadline moves to the next business day.
To request an extension, file Form 8809 with the IRS on or before the original due date. This extension isn't automatic and is granted only in specific circumstances, which must be explained on the form. If you need more time to furnish seller copies specifically, file Form 15397 by the original due date.
Ready to File Form 1099-SB?
Join over a million businesses who trust TaxBandits for accurate, on-time 1099-SB filing.
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