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IRS Form 1099-INT Overview

Form 1099-INT is an annual tax statement filed by payers of interest income, such as banks, financial institutions, mutual fund institutions, savings institutions, and government institutions. These institutions are required to file Form 1099-INT to report interest income for amounts $10 or more to the recipient and the IRS. Interest income includes interest on U.S. Savings Bonds, paid foreign taxes, Bond premiums, and interest-bearing checking accounts. This form is also used to report other tax items related to your interest income, such as early withdrawal penalties, tax-exempt interest, market discount and federal tax withheld. This report is provided to both the payee and the IRS.

Form 1099-INT Filing Deadlines for 2017 Tax Year

1099-INT Due to Recipient

Due to recipient by:

January 31, 2018

1099-INT Paper File

Paper file 1099-INT with the IRS by:

February 28, 2018

1099-INT E-File

E-file 1099-INT with the IRS by:

April 2, 2018

Required Information for E-Filing 1099-INT

  • Payer Details: Name, EIN, and Address
  • Recipient Details: Name, EIN/Social Security, and Address
  • Federal Details: Federal Interest Income and Federal Tax Withheld
  • State Filing Details: State Income, Payer State Number, and State Tax Withheld
IRS Form 1099-INT 2017

E-file Your 1099-INT Return in a Few Steps

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  • Create or sign in to your TaxBandits account
  • Select “Form 1099-INT”
  • Enter payer details
  • Enter recipient details
  • Enter amounts
  • Review, pay, and transmit return directly to the IRS

Form 1099 State Filings

Depending on your state requirements you may need to file Form 1099-INT to the applicable state department, along with any additional information. If your state is a part of the Combined Federal/State Filing the Internal Revenue Service: Information Returns Branch (IRS/IRB) will forward the original and corrected forms to the respective state automatically with no additional charge. However, select states within the program still require individuals to file with the state department.

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Form 1099-INT Late Filing Penalties

A penalty will be enforced if the filer fails to file Form 1099-INT by the deadline, include all required information, or if the filer files a return containing incorrect information or paper files when required to e-file. Penalty amounts are based on the size of the organization and the date Form 1099-INT is actually filed. Penalty amounts range from $30 to $1,500,000.

Form 1099-INT Corrections

If your Form 1099-INT is rejected by the IRS, file a new form correcting errors with TaxBandits as soon as possible. In order to correct incorrect recipient details and federal amounts previously filed on Form 1099-INT simply refile the form and use necessary indicators to mark form as a correction.

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1099-INT Extension Form 8809

Need More Time to Report your 1099-INT Interest Income?

If you’re unable to file Form 1099-INT on time, you can apply for an automatic 30-day extension of time to file by completing Form 8809 by your original due date. E-file and receive approval within an hour.

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Download the 1099 Mobile App

E-File Form 1099-INT from Your Mobile Device

This application is free to download on any iOS or Android device. Download our app today to efficiently file Form 1099-INT from your phone.

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Form 1099-INT Resources

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