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FAQs on Form 1099 INT

What is WHFIT and How Is It Reported on Form 1099-INT?

A WHFIT is a Widely Held Fixed Investment Trust. Trustees and middlemen must report the gross amount of interest attributable to the TIH for the calendar year on Form 1099-INT if that amount exceeds $10. If the trustee provides WHFIT information using the safe harbor rules in Regulations section 1.671-5(f)(1) or (g)(1), the trustee or middleman must determine the amounts reported on Form 1099-INT under Regulations section 1.671-5(f)(2) or (g)(2), as appropriate.

Last modified 26 Jul 2017 16:07 EST

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