Gathering Information to Prepare Form 1099-INT

Before you prepare your 1099-INT forms, you will need tax information for the payer and payee, as well as the amounts paid to the payee.

A. Payer Information

You will need to include the following information on each 1099-INT form you prepare.

  • Federal Identification Number
  • Payer Name
  • Payer Address
  • Payer Routing Transit Number (Optional, for institutions that wish to participate in the program for direct deposit of refunds)

B. Payee Information

You will need to include the following information on each 1099-INT form you prepare.

  • Payee Tax Identification Number (TIN)
  • Payee Name
  • Payee Address
  • Account Number (Only required if Payee/Recipient has multiple accounts for which you are filing more than one Form 1099-INT or if selecting “FATCA filing requirement” box. Otherwise, optional.)

C. Payment Amounts

The IRS instructs that a 1099-INT form must be completed each person who, in the previous tax year, has been paid for certain amounts. It is recommended to view the IRS instructions for the amount types and their corresponding box number, as these are susceptible to change year to year.

Need More Information?

For more information on Form 1099-INT filing, check out our other blog posts linked below:

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BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.

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