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1099 Filing Requirements and Due Date in 2017

Here our tax expert’s team provided all the 1099 tax forms details including 1099 filing requirements, 1099 due date and extensions to tax payers.

  • 1099 Filing Requirements

    For 1099 instructions regarding Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G, refer to the general instructions. These instructions include additional information about 1099 requirements, paper filing, and line instructions. Filers of Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G, may be required to file electronically. Section 6011(e)(2)(A) of the Internal Revenue Code provides that any person, including a corporation, partnership, individual, estate, or trust, who is required to file 250 or more information returns, must file such returns electronically. The 250 or more requirement applies separately for each type of return and separately to each type of corrected return. See Part A. General Information, Sec. 8, Form 8508, and Request for Waiver from Filing Information Returns Electronically, if you are required to file 1099 form electronically, but this requirement causes an undue hardship.

  • Note: All filers are encouraged to file information returns electronically even if they are not required to do so.
  • All 1099 filing requirements apply individually to each reporting entity as defined by its separate TIN. For example, if a corporation with several branches or locations uses the same Employer Identification Number (EIN), the corporation must aggregate the total volume of returns to be filed for that EIN and apply the filing requirements to each type of return accordingly.
  • 1099 Retention Requirements

    Payers should retain a copy of information returns (or have the ability to reconstruct the data) for at least three years from the reporting due date with the following exceptions:

    • Returns reporting federal withholding should be retained for four years.
    • Retain a copy of Form 1099-C, Cancellation of Debt, for at least four years from the due date of the return.
  • 1099 Forms Types, Filing Requirements and Due Date in 2017

    Forms 1097, 1098, 1099, 3921, 3922, 8935, and W-2G f are filed on a calendar year basis. Forms 5498 are used to report amounts contributed during or after the calendar year (but no later than April 15).
  • Due Dates
    Form IRS Paper Filing IRS Electronic Filing Recipient/Participant Copy
    1097 February 28 March 31 On or before the 15th day of the 2nd
    calendar month after the close of
    the calendar quarter (on or before
    May 15; August 15; November 15;
    February 15 of the following year)
    1098 February 28 March 31 January 31
    1099 February 28 March 31 January 31*
    3921 February 28 March 31 January 31
    3922 February 28 March 31 January 31
    5498 May 31 May 31 January 31/May 31**
    5498-SA May 31 May 31 May 31
    5498- ESA May 31 May 31 April 30
    8935 Due 90 days from date of payment
    W-2G February 28 March 31 January 31
    Note: If any due date falls on a Saturday, Sunday, or legal holiday, the return or statement is considered timely if filed or furnished on the next day that is not a Saturday, Sunday, or legal holiday.
  • Extension for Filing 1099 Forms with the IRS

    The application for extension of time to file information returns must be filed by the due date of the return for which the extension is being requested. If the payer/filer is requesting an extension for multiple form types, the extension must be requested by the earliest 1099 due date 2017. A separate extension application is required for each payer/filer.

    Method How To Notification
    Online submission of Extension of Time to File Information Returns The Fill-in Form 8809 may be completed online via the FIRE System. (See Part B. Sec. 3, Connecting to the FIRE System. From the Main Menu, click “Extension of Time Request” and then click “Fill-in Extension Form”. Forms 8809 completed on line receive an instant acknowledgement on screen if form is completed properly and timely.
    Electronic File Transmission (record layout) A request for an extension of time to file information returns may be filed electronically by transmitting an electronic extension file. See Part D. Extension of Time to File. Transmitters requesting an extension of time via an electronic file will receive the file status results online.
    Paper submissions of Form 8809, Application for Extension of Time to File Information Returns Form 8809 can be obtained on Publication and Forms (see Part A. Sec. 5, General Information, Additional Resources). Mail completed Form 8809 to: Internal Revenue Service 240 Murall Drive, Mail Stop 4360 Kearneysville, WV 25430 Payer/filer will receive a letter.

    Here we have 3 methods for filing a request for an extension of time to file information returns:

    If the request for extension of time to file an information return is received beyond the due date of the information return, it will be denied. For more information on extension requests and requesting an additional extension of time, see Form 8809, Application for Extension of Time to File Information Returns.

  • Request an Extension for Filing 1099 Forms in Additional Time

    Title 26 CFR Chapter 1 subsection 6081-8(2)(d) allows a payer (filer) or transmitter to request an additional 30-day extension to file information returns if the first automatic 30-day extension was granted and the additional extension is filed before the expiration of the automatic 30-day extension. The additional extension can be filed on Form 8809 or filed electronically provided that the filer faxes a Form 8809 the same day the file is transmitted to satisfy the reason and signature requirement. The on-line Fill-in Form 8809 cannot be used to request an additional extension of time. Sec. 7 Extension of Time for Recipient Copies of Information Returns.

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