Form 1099-INT - Interest Income

Instructions for Forms
1099-INT and 1099-OID

Department of the Treasury
Internal Revenue Service

(Rev. January 2022)

Interest Income and Original Issue Discount
Section references are to the Internal Revenue Code unless
otherwise noted.

Future Developments

For the latest information about developments related to Forms
1099-INT and 1099-OID and their instructions, such as
legislation enacted after they were published, go to IRS.gov/
Form1099INT and IRS.gov/Form1099OID.

What’s New
Continuous-use form and instructions. Form 1099-INT and
these instructions have been converted from an annual revision
to continuous use. Both the form and instructions will be updated
as needed. For the most recent versions, go to IRS.gov/
Form1099INT.

Reminders

In addition to these specific instructions, you should also use the
current General Instructions for Certain Information Returns.
Those general instructions include information about the
following topics.
• Who must file.
• When and where to file.
• Electronic reporting.
• Corrected and void returns.
• Statements to recipients.
• Taxpayer identification numbers (TINs).
• Backup withholding.
• Penalties.
• The definitions of terms applicable for chapter 4 purposes that
are referenced in these instructions.
• Other general topics.
You can get the General Instructions for Certain Information
Returns, at IRS.gov/1099GeneralInstructions, or go to IRS.gov/
Form1099INT or IRS.gov/Form1099OID.
Online fillable Copies 1, B, 2, and C. To ease statement
furnishing requirements, Copies 1, B, 2, and C are fillable online
in a PDF format available at IRS.gov/Form1099INT and IRS.gov/
Form1099OID. You can complete these copies online for
furnishing statements to recipients and for retaining in your own
files.
Continuous-use Form 1099-OID and instructions. Form
1099-OID and its instructions, contained herein, are continuous
use. Both the form and instructions will be updated as needed.
For the most recent version, go to IRS.gov/Form1099OID.
Nonresident aliens. If you pay U.S. bank deposit interest of at
least $10 to certain nonresident alien individuals, report the
interest on Form 1042-S, Foreign Person's U.S. Source Income
Subject to Withholding. To determine whether an information
return is required for original issue discount, see Regulations
sections 1.6049-4(d)(2), 1.6049-5(f) and 1.6049-8(a). This
interest may be subject to backup withholding. See the
Instructions for Form 1042-S. Also, see Rev. Proc. 2012-24,
2012-20 I.R.B. 913, available at IRS.gov/irb/
2012-20_IRB#RP-2012-24.

Nov 08, 2021

Specific Instructions for Form
1099-INT

Note. For the most recent version, go to IRS.gov/Form1099INT.
File Form 1099-INT, Interest Income, for each person:
1. To whom you paid amounts reportable in boxes 1, 3, or 8
of at least $10 (or at least $600 of interest paid in the course of
your trade or business described in the instructions for Box 1.
Interest Income, later);
2. For whom you withheld and paid any foreign tax on
interest; or
3. From whom you withheld (and did not refund) any federal
income tax under the backup withholding rules regardless of the
amount of the payment.
Report only interest payments made in the course of your
trade or business including federal, state, and local government
agencies and activities deemed nonprofit, or for which you were
a nominee/middleman. Report interest that is taxable OID in
box 1 or 8 of Form 1099-OID, Original Issue Discount, not on
Form 1099-INT. Report interest that is tax-exempt OID in box 11
of Form 1099-OID, not on Form 1099-INT. Report
exempt-interest dividends from a mutual fund or other regulated
investment company (RIC) on Form 1099-DIV.
For a specified private activity bond with OID, report the
tax-exempt OID in box 11 on Form 1099-OID, and the
tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.
Exceptions to reporting. No Form 1099-INT must be filed for
payments made to exempt recipients or for interest excluded
from reporting.
Exempt recipients. You are not required to file Form
1099-INT for payments made to certain payees including, but
not limited to, a corporation, a tax-exempt organization, any
individual retirement arrangement (IRA), Archer medical savings
account (MSA), Medicare Advantage MSA, health savings
account (HSA), a U.S. agency, a state, the District of Columbia,
a U.S. possession, a registered securities or commodities
dealer, nominees or custodians, brokers, or notional principal
contract (swap) dealers. For additional exempt recipients, see
Regulations section 1.6049-4 for more information. For
situations when you are required to file Form 1099-INT for
certain recipients that are otherwise generally exempt, but that
receive credits from tax credit bonds, see Interest to holders of
tax credit bonds under Box 1. Interest Income, later.
Interest excluded from reporting. You are not required to
file Form 1099-INT for interest on an obligation issued by an
individual, interest on amounts from sources outside the United
States paid outside the United States by a non-U.S. payer or
non-U.S. middleman, certain portfolio interest, interest on an
obligation issued by an international organization and paid by
that organization, and payments made to a foreign beneficial
owner or foreign payee. See Regulations section 1.6049-5 for
more information.
Other exception. Do not report tax-deferred interest, such as
interest that is earned but not distributed from an IRA.

Cat. No. 27980N

received during the year at the time of the transactions, such as
you might have done for window transactions, do not include
these same amounts in a Form 1099-INT furnished to the same
recipient for other payments during the year.

When is a payment made? Generally, interest is paid when it
is credited or set apart for a person without any substantial
limitation or restriction as to the time, manner, or condition of
payment. The interest must be made available so that it may be
drawn on at any time and its receipt brought within the control
and disposition of the person.
For payments made on obligations subject to transactional
reporting (for example, U.S. Savings Bonds, interest coupons,
and other demand obligations), interest is paid at the time the
obligation is presented for payment. For example, interest on a
coupon detached from a bond is paid when it is presented for
payment.
For rules regarding when interest earned by a trust interest
holder (TIH) in a widely held fixed investment trust (WHFIT) is
reportable, see Regulations section 1.671-5.
A credit allowed from tax credit bonds reportable on Form
1099-INT is treated as paid on the credit allowance date. For
information on credit allowance dates, see Interest to holders of
tax credit bonds under Box 1. Interest Income, later.

Truncating recipient’s TIN. Pursuant to Regulations section
301.6109-4, all filers of Form 1099-INT may truncate a
recipient’s TIN (social security number (SSN), individual
taxpayer identification number (ITIN), adoption taxpayer
identification number (ATIN), or employer identification number
(EIN)) on payee statements. Truncation is not allowed on any
documents the filer files with the IRS. A payer's TIN may not be
truncated on any form. See part J in the current General
Instructions for Certain Information Returns.
Account number. The account number is required if you have
multiple accounts for a recipient for whom you are filing more
than one Form 1099-INT. The account number is also required if
you check the “FATCA filing requirement” box. See FATCA filing
requirement checkbox, later. Additionally, the IRS encourages
you to designate an account number for all Forms 1099-INT that
you file. See part L in the current General Instructions for Certain
Information Returns.

Reporting interest and OID. If you are reporting qualified
stated interest and OID on any obligation that is not a specified
private activity bond, you may report both the qualified stated
interest and the OID on Form 1099-OID. It is not necessary to file
both Forms 1099-INT and 1099-OID. On Form 1099-OID, report
the qualified stated interest in box 2 and the OID in box 1, 8, or
11, as applicable. However, you may choose to report the
qualified stated interest on Form 1099-INT and the OID on Form
1099-OID. For a specified private activity bond with OID, report
the tax-exempt OID in box 11 on Form 1099-OID and the
tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.

FATCA filing requirement checkbox. Check the box if you
are a U.S. payer that is reporting on Form(s) 1099 (including
reporting payments in boxes 1, 3, 8, 9, and 10 on this Form
1099-INT) as part of satisfying your requirement to report with
respect to a U.S. account for chapter 4 purposes, as described
in Regulations section 1.1471-4(d)(2)(iii)(A). In addition, check
the box if you are a Foreign Financial Institution (FFI) reporting
payments to a U.S. account pursuant to an election described in
Regulations section 1.1471-4(d)(5)(i)(A).
2nd TIN not. You may enter an “X” in this box if you were
notified by the IRS twice within 3 calendar years that the payee
provided an incorrect TIN. If you mark this box, the IRS will not
send you any further notices about this account.
However, if you received both IRS notices in the same year,
or if you received them in different years but they both related to
information returns filed for the same year, do not check the box
at this time. For purposes of the two-notices-in-3-years rule, you
are considered to have received one notice and you are not
required to send a second “B” notice to the taxpayer on receipt
of the second notice. See part N in the current General
Instructions for Certain Information Returns for more information.

Reporting interest and bond premium. For a covered
security acquired with bond premium, you must report the
amount of bond premium amortization for the tax year. See
Regulations section 1.6045-1(a)(15) to determine if a debt
instrument is a covered security. However, in the case of a
taxable bond, if you have been notified by the taxpayer that the
taxpayer does not elect to amortize bond premium, you must not
report any amount of bond premium amortization. See
Regulations section 1.6045-1(n)(5).
For a covered security acquired with OID and bond premium,
if you choose to report qualified stated interest in box 2 of Form
1099-OID, you must report any bond premium amortization on
that security in box 10 of Form 1099-OID. You may not report the
qualified stated interest on Form 1099-OID and the bond
premium amortization allocable to the interest on Form
1099-INT.
If you are required to report the amount of bond premium
amortization allocable to an interest payment, you may report
either (1) a net amount of interest that reflects the offset of the
interest payment by the amount of bond premium amortization
allocable to the interest payment, or (2) a gross amount for both
the interest payment and the bond premium amortization
allocable to the interest payment. For example, if a taxpayer
receives $20 of taxable interest from a corporate bond and the
amount of bond premium amortization allocable to the interest is
$2, you may report $18 of interest income in box 1 of Form
1099-INT and $0 in box 11, or you may report $20 of interest
income in box 1 and $2 in box 11. For a noncovered security
acquired with bond premium, you are only required to report the
gross amount of interest.

For information on the TIN Matching System offered by

TIP the IRS, see Items You Should Note in the current

General Instructions for Certain Information Returns.

Payer's RTN (optional). If you are a financial institution that
wishes to participate in the program for direct deposit of refunds,
you may enter your routing and transit number (RTN).

Box 1. Interest Income

Enter taxable interest not included in box 3. Include amounts of
$10 or more, whether or not designated as interest, that are paid
or credited to the person's account by savings and loan
associations, mutual savings banks not having capital stock
represented by shares, building and loan associations,
cooperative banks, homestead associations, credit unions, or
similar organizations. Include interest on bank deposits,
accumulated dividends paid by a life insurance company,
indebtedness (including bonds, debentures, notes, and
certificates other than those of the U.S. Treasury) issued in
registered form or of a type offered to the public, or amounts
from which you withheld federal income tax or foreign tax. In
addition, report interest of $10 or more attributable to a TIH of a
WHFIT, or accrued by a real estate mortgage investment conduit
(REMIC), a financial asset securitization investment trust

Statements to recipients. If you are required to file Form
1099-INT, you must furnish a statement to the recipient. For
more information about the requirement to furnish an official form
or acceptable substitute statement to recipients, see part M in
the current General Instructions for Certain Information Returns.
If you have furnished Forms 1099-INT to a recipient for amounts
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Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

address, and TIN on Form 1099-INT and Form 1096, Annual
Summary and Transmittal of U.S. Information Returns, not those
of the U.S. Treasury Department or the Bureau of the Fiscal
Service.

(FASIT) regular interest holder, or paid to a collateralized debt
obligation (CDO) holder, as explained later.
Also, include interest of $600 or more paid in the course of
your trade or business not meeting the above criteria, such as
interest on delayed death benefits paid by a life insurance
company, interest received with damages, interest on a state or
federal income tax refund, or interest attributable to certain
notional principal contracts with nonperiodic payments.
Include in box 1 any accrued qualified stated interest on
bonds sold between interest dates (or on a payment date). Also
show OID on short-term obligations of 1 year or less and interest
on all bearer certificates of deposit. For a taxable covered
security acquired at a premium, see Box 11. Bond Premium,
later.
Do not include in box 1 interest on tax-free covenant bonds or
dividends from money market funds (which are reportable on
Form 1099-DIV). Do not include any description in box 1.

Box 4. Federal Income Tax Withheld

Enter backup withholding. For example, if a recipient does not
furnish its TIN to you in the manner required, you must backup
withhold on payments required to be reported in box 1 (which
may be reduced by the amount reported in box 2), box 3, and
box 8 on this form.
For more information on backup withholding, including the
applicable rate, see part N in the current General Instructions for
Certain Information Returns.
For information on requesting the recipient's TIN, see part J in
the current General Instructions for Certain Information Returns.

Box 5. Investment Expenses

Interest to holders of tax credit bonds. Report tax credits in
amounts of $10 or more allowed from the following tax credit
bonds.
• Clean renewable energy bonds.
• New clean renewable energy bonds.
• Qualified energy conservation bonds.
• Qualified zone academy bonds.
• Qualified school construction bonds.
• Build America bonds (Tax Credit).
Treat these amounts as paid on the credit allowance date.
The credit allowance dates are March 15, June 15, September
15, December 15, and the last day on which the bond is
outstanding. For bonds issued during the 3-month period ending
on a credit allowance date and for bonds which are redeemed or
mature, the amount of the credit is determined ratably based on
the portion of the 3-month period during which the bond is
outstanding.
Generally, interest paid is not required to be reported to the
list of recipients below. However, if they are holders of, or
recipients of credit from, the tax credit bonds listed above, the
tax credit must be reported.
• A corporation.
• A dealer in securities or commodities required to register as
such under the laws of the United States, a state, the District of
Columbia, or a possession of the United States.
• A real estate investment trust (REIT) as defined in section
856.
• An entity registered at all times during the tax year under the
Investment Company Act of 1940.
• A common trust fund as defined in section 584(a).
• Any trust which is exempt from tax under section 664(c).

For single-class REMICs only, see Box 5. Investment Expenses
under Rules for REMICs, FASITs, and Issuers of CDOs, later.
Note. This amount is not deductible.

Box 6. Foreign Tax Paid

Enter any foreign tax paid on interest. Report this amount in U.S.
dollars.

Box 7. Foreign Country or U.S. Possession

Enter the name of the foreign country or U.S. possession for
which the foreign tax was paid and reported in box 6.

Box 8. Tax-Exempt Interest

Enter tax-exempt interest that is not OID of $10 or more that is
credited or paid to the person's account if that interest is paid on
obligations issued by a state, the District of Columbia, a U.S.
possession, an Indian tribal government, or their political
subdivisions, or qualified volunteer fire departments to finance
eligible expenditures. A political subdivision may include port
authorities, toll road commissions, utility services authorities,
community redevelopment agencies, and similar governmental
entities that meet the requirements of Regulations section
1.103-1(b). Include in box 8 any accrued qualified stated interest
on these bonds sold between interest dates (or on a payment
date). For a tax-exempt covered security acquired at a premium,
see Box 13. Bond Premium on Tax-Exempt Bond, later.
Any exempt-interest dividends from a mutual fund or other
RIC are reported on Form 1099-DIV.
Include specified private activity bond interest in box 9 and in
the total for box 8. See the instructions for box 9 next.

Box 2. Early Withdrawal Penalty

Enter interest or principal forfeited because of an early
withdrawal of time deposits, such as an early withdrawal from a
certificate of deposit (CD), that is deductible from gross income
by the recipient. Do not reduce the amount reported in box 1 by
the amount of the forfeiture. For detailed instructions for
determining the amount of forfeiture deductible by the depositor,
see Rev. Ruls. 75-20, 1975-1 C.B. 29, and 75-21, 1975-1 C.B.
367.

Box 9. Specified Private Activity Bond Interest

Enter interest of $10 or more from specified private activity
bonds. Generally, “specified private activity bond” means any
private activity bond defined in section 141 and issued after
August 7, 1986. See section 57(a)(5) for more details. Also, see
the Instructions for Form 6251, Alternative Minimum
Tax—Individuals, available at IRS.gov/Form6251.

Box 3. Interest on U.S. Savings Bonds and
Treasury Obligations

Box 10. Market Discount

For a covered security acquired with market discount, if the
taxpayer notified you that a section 1278(b) election was made,
enter the amount of market discount that accrued on the debt
instrument during the tax year in the amount of $10 or more. For
more details, see Regulations section 1.6045-1(n). Unless the
taxpayer notified you that the taxpayer did not make a section
1276(b) election, use the constant yield method described in

Enter interest on U.S. Savings Bonds, Treasury bills, Treasury
notes, and Treasury bonds. Do not include in box 1. For a
taxable covered security acquired at a premium, see Box 12.
Bond Premium on U.S. Treasury Obligations, later.
If you make payment on a U.S. Savings Bond or other U.S.
obligation on which interest is reportable, enter your name,
Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

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Rules for WHFITs

section 1276(b)(2) to determine the accruals of market discount
for the debt instrument. See Regulations section 1.6045-1(n)(11)
(i)(B). For a covered security with OID, report the accruals of
market discount on Form 1099-OID rather than on Form
1099-INT.

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.

Box 11. Bond Premium

For a taxable covered security acquired at a premium (other than
a U.S. Treasury obligation), enter the amount of bond premium
amortization allocable to the interest paid during the tax year,
unless you were notified in writing that the holder did not want to
amortize bond premium under section 171. See Regulations
sections 1.6045-1(n)(5) and 1.6049-9(b). If you are required to
report bond premium amortization and you reported a net
amount of interest in box 1, leave this box blank.

Requirement to furnish a tax information statement to the
TIH. A tax information statement that includes the information
provided to the IRS on Form 1099-INT, as well as additional
information identified in Regulations section 1.671-5(e), must be
provided to TIHs. The written tax information statement must be
furnished to the TIH by March 15. The amount of an item of a
trust expense that is attributable to a TIH must be included on
the tax information statement provided to the TIH and is not
required to be included in box 5 of Form 1099-INT.
WHFIT interest income information may be included in
summary totals reported to the IRS and the TIH. Information
about WHFIT interest income may also be included in a
composite statement furnished to the TIH.
For more filing requirements, see the current General
Instructions for Certain Information Returns.

Box 12. Bond Premium on U.S. Treasury
Obligations

For a U.S. Treasury obligation that is a covered security, enter
the amount of bond premium amortization allocable to the
interest paid during the tax year, unless you were notified in
writing that the holder did not want to amortize bond premium
under section 171. See Regulations sections 1.6045-1(n)(5) and
1.6049-9(b). If you are required to report bond premium
amortization and you reported a net amount of interest in box 3,
leave this box blank.

Rules for REMICs, FASITs, and Issuers of CDOs
In the case of a FASIT, these reporting rules apply only
to FASITs in existence on October 22, 2004, to the
CAUTION extent that regular interests issued by the FASIT before
that date continue to remain outstanding in accordance with the
original terms of issue.

Box 13. Bond Premium on Tax-Exempt Bond

!

For a tax-exempt covered security acquired at a premium, enter
the amount of bond premium amortization allocable to the
interest paid during the tax year. If you reported a net amount of
interest in box 8 or 9, whichever is applicable, leave this box
blank.

REMICs, holders of ownership interests in FASITs, issuers of
CDOs, and any broker or middleman who holds as a nominee a
REMIC or FASIT regular interest or CDO must file Form
1099-INT. The form is used to report interest of $10 or more,
other than OID, accrued to a REMIC or FASIT regular interest
holder during the year or paid to a holder of a CDO. If you are
also reporting OID, this interest and the OID can be reported on
Form 1099-OID. You do not have to file both Forms 1099-INT
and 1099-OID.

Box 14. Tax-Exempt and Tax Credit Bond CUSIP
No.
For single bonds or accounts containing a single bond, enter the
CUSIP number of the tax-exempt bond for which tax-exempt
interest is reported in box 8 or tax credit bond (including build
America bond and specified tax credit bond) for which a tax
credit or taxable interest, as applicable, is reported in box 1.
Enter the CUSIP number of the bond for which interest was paid
or tax credit was allowed. If the tax-exempt interest or the tax
credit is reported in the aggregate for multiple bonds or
accounts, enter “various.”

You are not required to file or issue Form 1099-INT for
exempt recipients including, but not limited to, the following.
• A corporation.
• A broker.
• A middleman/nominee.
• A financial institution.
• Any IRA, Archer MSA, Medicare Advantage MSA, or HSA.
• A tax-exempt organization.

Boxes 15–17. State Information

These boxes may be used by payers who participate in the
Combined Federal/State Filing Program and/or who are required
to file paper copies of this form with a state tax department. See
Pub. 1220 for more information regarding the Combined
Federal/State Filing Program. They are provided for your
convenience only and need not be completed for the IRS. Use
the state information boxes to report payments for up to two
states. Keep the information for each state separated by the
dash line. If you withheld state income tax on this payment, you
may enter it in box 17. In box 15, enter the abbreviated name of
the state, and in box 16, enter the payer's state identification
number. The state number is the payer's identification number
assigned by the individual state.

For additional exempt recipients, see Regulations section
1.6049-7(c).

Box 1. Interest Income
Report in box 1 the amount of interest, other than OID, accrued
to each REMIC or FASIT regular interest holder or paid to a CDO
holder for the period during the year for which the return is made.
If you are a single-class REMIC (as defined in Temporary
Regulations section 1.67-3T(a)(2)(ii)(B)), increase the amount
otherwise reportable in box 1 by the regular interest holder's
share of investment expenses of the REMIC for the year. No
amount should be reported in box 3.

If a state tax department requires that you send them a paper
copy of this form, use Copy 1 to provide information to the state
tax department. Give Copy 2 to the recipient for use in filing the
recipient's state income tax return.

Box 5. Investment Expenses
Enter the regular interest holder's pro rata share of investment
expenses.

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Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

• A financial institution having other deposit arrangements,
such as time deposits or bonus-savings plans, if the
arrangements have OID and a term of more than 1 year.
• A broker or other middleman holding an OID obligation,
including CDs, as nominee for the actual owner.
• A trustee or middleman of a widely held fixed investment trust
(WHFIT) or widely held mortgage trust (WHMT).
• A real estate mortgage investment conduit (REMIC), a holder
of an ownership interest in a financial asset securitization
investment trust (FASIT), or an issuer of a collateralized debt
obligation (CDO).

Statements to Holders
For each Form 1099-INT you are required to file, you must
furnish a statement to the REMIC or FASIT regular interest
holder or CDO holder identified on the form. The statement must
contain the information shown on Form 1099-INT, including the
legend shown on Copy B of the official Form 1099-INT, and an
indication that these items are being furnished to the IRS. The
statement must also show the information specified in
Regulations section 1.6049-7(f)(2)(i). In addition, the statement
furnished by a REMIC must show, for each calendar quarter, the
information specified in Regulations section 1.6049-7(f)(3). Also,
see Regulations section 1.6049-7(f)(3)(ii) for information that
may be required to be reported to a REIT that holds a REMIC
regular interest.

Also, file Form 1099-OID for any person for whom you
withheld and paid any foreign tax on OID or from whom you
withheld (and did not refund) any federal income tax under the
backup withholding rules even if the amount of the OID is less
than $10.

A single-class REMIC (as defined in Temporary Regulations
section 1.67-3T(a)(2)(ii)(B)) must include in the statement the
investment expenses paid or accrued during each calendar
quarter by the REMIC for which the REMIC is allowed a
deduction under section 212 and the proportionate share of
those investment expenses allocated to the regular interest
holder.

Original issue discount. OID is the excess of an obligation's
stated redemption price at maturity over its issue price
(acquisition price for a stripped bond or coupon). In the case of a
taxable obligation, a discount of less than 1/4 of 1% of the stated
redemption price at maturity, multiplied by the number of full
years from the date of issue to maturity, is considered to be zero.

The statement must be furnished to holders by March 15. To
meet the statement requirement, you may furnish a copy of Form
1099-INT and a separate statement containing the additional
information to the REMIC or FASIT regular interest holder or
CDO holder.

Reporting OID. You must prepare a Form 1099-OID for each
person who is a holder of record of the obligation if the total daily
portions of OID for that person is at least $10. See the
instructions for Box 1, later, for taxable OID; Box 8, later, for
taxable OID on U.S. Treasury obligations; and Box 11, later, for
tax-exempt OID.
Ordinarily, you will file only one Form 1099-OID for the
depositor or holder of a particular obligation for the calendar
year. If a person holds more than one discount obligation, issue
a separate Form 1099-OID for each obligation. However, if a
person holds more than one certificate, you can file a single
Form 1099-OID only if (1) they are the same issue, (2) held the
same amount of time during the calendar year, (3) acquired at
the same time, (4) acquired for the same price, and (5) all debt
elections (or lack of elections) are the same for all certificates.
For information about how to compute OID, see sections
1271–1275 and their regulations and section 1288.
If you are a broker or middleman who holds a bank CD as
nominee, whether or not you sold the CD to the owner, you must
determine the amount of OID includible in the income of the
owner, if any, and report it on Form 1099-OID.
Pub. 1212, Guide to Original Issue Discount (OID)
Instruments, contains information on certain outstanding publicly
offered discount obligations. It is available at IRS.gov/Pub1212.
Issuers of certain publicly offered debt instruments having
OID must file Form 8281, Information Return for Publicly Offered
Original Issue Discount Instruments, generally within 30 days
after the date of issuance, or, if later, the date of registration with
the Securities and Exchange Commission. The information
provided on that form will enable the IRS to update Pub. 1212.
See Form 8281, available at IRS.gov/Form8281, and
Regulations section 1.1275-3(c) for details.

For information about reporting income to REMIC residual
interest holders, see the instructions for Schedule Q (Form
1066), Quarterly Notice to Residual Interest Holder of REMIC
Taxable Income or Net Loss Allocation, in the Instructions for
Form 1066, available at IRS.gov/Form1066.

Form 8811 and Reporting by Brokers or
Middlemen
REMICs and issuers of CDOs must also file Form 8811,
Information Return for Real Estate Mortgage Investment
Conduits (REMICs) and Issuers of Collateralized Debt
Obligations, within 30 days after the start-up date of the REMIC
or issue date of a CDO. The IRS will use the information on
Forms 8811 to update Pub. 938, Real Estate Mortgage
Investment Conduits (REMICs) Reporting Information, for use by
certain brokers, middlemen, corporations, and others specified
in Regulations section 1.6049-7(e)(4). Pub. 938 is available at
IRS.gov/Pub938.
For the requirements that a REMIC or CDO issuer or a broker
or middleman who holds a REMIC or FASIT regular interest or a
CDO furnish certain information on request, see Regulations
sections 1.6049-7(e) and 1.6049-7(f)(7).

Specific Instructions for Form
1099-OID

Exceptions. You are not required to file Form 1099-OID for
payments made to certain payees including a corporation, a
tax-exempt organization, any individual retirement arrangement
(IRA), an Archer medical savings account (MSA), Medicare
Advantage MSA, health savings account (HSA), a U.S. agency,
a state, the District of Columbia, a U.S. possession, or a
registered securities or commodities dealer.

Note. For the most recent version, go to IRS.gov/
Form1099OID.
File Form 1099-OID, Original Issue Discount, if the total daily
portions of original issue discount (OID) for a holder is at least
$10 and you are any of the following.
• An issuer with any bond outstanding or other evidence of
indebtedness in registered or bearer form issued with OID.
• An issuer of a certificate of deposit (CD) made, purchased, or
renewed after 1970 if the CD has OID and a term of more than 1
year (see Caution, later).

Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

!

CAUTION

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Report interest on U.S. Savings Bonds on Form
1099-INT. Also, report OID on obligations with a term of
1 year or less on Form 1099-INT.

2nd TIN not. You may enter an “X” in this box if you were
notified by the IRS twice within 3 calendar years that the payee
provided an incorrect TIN. If you mark this box, the IRS will not
send you any further notices about this account.
However, if you received both IRS notices in the same year,
or if you received them in different years but they both related to
information returns filed for the same year, do not check the box
at this time. For purposes of the two-notices-in-3-years rule, you
are considered to have received one notice and you are not
required to send a second “B” notice to the taxpayer on receipt
of the second notice. See part N in the current General
Instructions for Certain Information Returns for more information.

Reporting interest and OID. If you are reporting qualified
stated interest and OID on an obligation, you may report both the
interest and the OID on Form 1099-OID. It is not necessary to file
both Forms 1099-INT and 1099-OID. On Form 1099-OID, report
the qualified stated interest in box 2 and the OID in box 1, 8, or
11, as applicable. You may choose to report the interest on Form
1099-INT and the OID on Form 1099-OID.
Reporting OID and acquisition premium. For a covered
security acquired with acquisition premium, you must report the
amount of acquisition premium amortization for the tax year. See
Regulations section 1.6045-1(a)(15) to determine if a debt
instrument is a covered security. In general, you must use the
rules in Regulations section 1.1272-2(b)(4) to amortize the
acquisition premium. See Regulations section 1.6049-9(c). You
may, but are not required to, report the acquisition premium
amortization for a tax-exempt obligation that is a covered
security acquired before January 1, 2017.
If you are required to report the amount of acquisition
premium amortized for the tax year, you may report either (1) a
net amount of OID that reflects the offset of OID by the amount
of acquisition premium amortization for the year, or (2) a gross
amount for both the OID and the acquisition premium
amortization for the year. For example, if $20 of OID accrues on
a corporate bond during the year and there is acquisition
premium amortization of $2 for the year, you may report $18 of
OID in box 1 and $0 in box 6, or you may report $20 of OID in
box 1 and $2 in box 6. For a noncovered security acquired with
acquisition premium, you are only required to report the gross
amount of OID.

For information on the TIN Matching System offered by

TIP the IRS, see Items You Should Note in the current

General Instructions for Certain Information Returns.

Box 1. Original Issue Discount

Report the taxable OID on the obligation for the part of the year it
was owned by the record holder. Do not include the amount
reported in box 8. For a discussion of WHFITs, WHMTs,
REMICs, FASITs, and CDOs, see the instructions, later.

Box 2. Other Periodic Interest

Enter any qualified stated interest paid or credited on this
obligation during the year. However, you may report any
qualified stated interest on Treasury Inflation Protected
Securities in box 3 of Form 1099-INT rather than in box 2 of
Form 1099-OID. Interest reported here must not be reported on
Form 1099-INT. For a discussion of REMICs, FASITs, and
CDOs, see the instructions, later.

Reporting interest and bond premium. For a debt instrument
with OID that is a covered security, if you choose to report
qualified stated interest in box 2 of Form 1099-OID, report any
bond premium amortization allocable to the interest in box 10 of
Form 1099-OID and not in boxes 11–13 of Form 1099-INT.

Box 3. Early Withdrawal Penalty

Enter interest or principal forfeited because of an early
withdrawal of time deposits, such as an early withdrawal from a
CD, that is deductible from gross income by the recipient. Do not
reduce the amounts in boxes 1 and 2 by the amount of the
forfeiture. For detailed instructions for determining the amount of
forfeiture deductible by the holder, see Rev. Ruls. 75-20, 1975-1
C.B. 29, and 75-21, 1975-1 C.B. 367.

Statements to recipients. If you are required to file Form
1099-OID, you must furnish a statement to the recipient. For
more information about the requirement to furnish an official form
or acceptable substitute statement to recipients, see part M in
the current General Instructions for Certain Information Returns.
Truncating recipient’s TIN on payee statements. Pursuant
to Regulations section 301.6109-4, all filers of Form 1099-OID
may truncate a recipient’s TIN (social security number (SSN),
individual taxpayer identification number (ITIN), adoption
taxpayer identification number (ATIN), or employer identification
number (EIN)) on payee statements. Truncation is not allowed
on any documents the filer files with the IRS. A payer's TIN may
not be truncated on any form. See part J in the current General
Instructions for Certain Information Returns.

Box 4. Federal Income Tax Withheld

Enter backup withholding. For example, if a recipient does not
furnish its TIN to you in the manner required, you must backup
withhold. The applicable interest rate applies to amounts
required to be reported in boxes 1, 2, and 8, but is limited to the
cash paid on these obligations. Before applying the applicable
interest rate, you may reduce the amounts reported in boxes 1
and 2 by the amount reported in box 3.

FATCA filing requirement checkbox. Check the box if you
are a U.S. payer that is reporting on Form(s) 1099 (including
reporting amounts in boxes 1, 2, and 8 on this Form 1099-OID)
as part of satisfying your requirement to report with respect to a
U.S. account for chapter 4 purposes, as described in
Regulations section 1.1471-4(d)(2)(iii)(A). In addition, check the
box if you are a Foreign Financial Institution (FFI) reporting
payments to a U.S. account pursuant to an election described in
Regulations section 1.1471-4(d)(5)(i)(A).

For more information on backup withholding, including the
applicable rate, see part N in the current General Instructions for
Certain Information Returns.
For information on requesting the recipient's TIN, see part J in
the current General Instructions for Certain Information Returns.

Box 5. Market Discount

For a covered security acquired with market discount and OID, if
the taxpayer notified you that a section 1278(b) election was
made, enter the amount of market discount that accrued on the
debt instrument during the tax year in the amount of $10 or
more. For more details, see Regulations section 1.6045-1(n).
Unless the taxpayer notified you that the taxpayer did not make
a section 1276(b) election, use the constant yield method
described in section 1276(b)(2) to determine the accruals of
market discount for the debt instrument. See Regulations
section 1.6045-1(n)(11)(i)(B). You may, but are not required to,

Account number. The account number is required if you have
multiple accounts for a recipient for whom you are filing more
than one Form 1099-OID. The account number is also required if
you check the “FATCA filing requirement” box. See FATCA filing
requirement checkbox, earlier. Additionally, the IRS encourages
you to designate an account number for all Forms 1099-OID that
you file. See part L in the current General Instructions for Certain
Information Returns.

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Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

states. Keep the information for each state separated by the
dash line. If you withheld state income tax on this payment, enter
it in box 14. In box 12, enter the abbreviated name of the state,
and in box 13, enter the payer's state identification number. The
state number is the payer's identification number assigned by
the individual state.

report the market discount for a tax-exempt obligation that is a
covered security acquired before January 1, 2017.

Box 6. Acquisition Premium

For a covered security acquired with acquisition premium, enter
the amount of premium amortization for the part of the year the
debt instrument was owned by the holder. See Regulations
sections 1.6045-1(n)(5) and 1.6049-9(c). If you reported a net
amount of OID in box 1, 8, or 11, as applicable, leave this box
blank. You may, but are not required to, report the acquisition
premium for a tax-exempt obligation that is a covered security
acquired before January 1, 2017.

If a state tax department requires that you send them a paper
copy of this form, use Copy 1 to provide information to the state
tax department. Give Copy 2 to the recipient for use in filing the
recipient's state income tax return.

Rules for WHFITs and WHMTs

Box 7. Description

If the OID attributable to a trust interest holder (TIH) exceeds $10
for the calendar year, trustees and middlemen must use Form
1099-OID to report both the gross amount of OID (box 1) and
interest (box 2) of the WHFIT that is attributable to the TIH. 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-OID under Regulations section 1.671-5(f)(2) or (g)(2), as
appropriate.

Enter the CUSIP number, if any. If there is no CUSIP number,
enter the abbreviation for the stock exchange, the abbreviation
for the issuer used by the stock exchange, the coupon rate, and
the year of maturity (for example, NYSE XYZ 121/2 25). If the
issuer of the obligation is other than the payer, show the name of
the issuer.

Box 8. Original Issue Discount on U.S. Treasury
Obligations

Reporting OID for a WHMT. If a WHMT has a start-up date
before August 13, 1998, trustees and middlemen of the WHMT
are not required to report OID information. If the WHMT has a
start-up date on or after August 13, 1998, and on or before
January 24, 2006, and the trustee has attempted in good faith,
but without success, to obtain the historical information required
to provide OID information, no penalties will be imposed if the
trustee and middlemen of the WHMT do not provide OID
information. The trustee must provide a statement to middlemen
indicating that the trustee is not providing OID information
because the trustee has attempted, in good faith, to obtain the
information necessary to calculate OID but has been
unsuccessful. See Regulations section 1.671-5(m)(2).

Enter the OID on a U.S. Treasury obligation for the part of the
year it was owned by the record holder. Do not include this
amount in box 1. You may enter any qualified stated interest on
the Treasury obligation in box 2. The amount in box 8 may be a
negative number (for example, if a Treasury Inflation Protected
Security has a deflation adjustment for the year).

If you make payment on a U.S. Treasury obligation on which
OID is reportable, enter your name, address, and TIN on Forms
1099-OID and 1096, not those of the U.S. Treasury Department
or the Bureau of the Fiscal Service.

Box 9. Investment Expenses

Requirement to furnish a tax information statement to the
TIH. A tax information statement that includes the information
provided to the IRS on Form 1099-OID, as well as additional
information identified in Regulations section 1.671-5(e), must be
provided to TIHs. The written tax information statement must be
furnished to the TIH by March 15. The amount of an item of a
trust expense that is attributable to a TIH must be included on
the tax information statement provided to the TIH and is not
required to be included in box 9 of Form 1099-OID.
For more filing requirements, see the current General
Instructions for Certain Information Returns.

For single-class REMICs only, see Box 9. Investment Expenses
under Rules for REMICs, FASITs, and Issuers of CDOs, later.
Note. This amount is not deductible.

Box 10. Bond Premium

For a taxable covered security acquired at a premium, enter the
amount of bond premium amortization allocable to the interest
paid during the tax year, unless you were notified in writing that
the holder did not want to amortize bond premium under section
171. See Regulations sections 1.6045-1(n)(5) and 1.6049-9(b).
For a tax-exempt covered security acquired at a premium, enter
the amount of bond premium amortization allocable to the
interest paid during the tax year. If you are required to report
bond premium amortization and you reported a net amount of
interest in box 2, leave this box blank.

Rules for REMICs, FASITs, and Issuers of CDOs
In the case of FASIT, these reporting rules apply only to
FASITs in existence on October 22, 2004, to the extent
CAUTION that regular interests issued by the FASIT before that
date continue to remain outstanding in accordance with the
original terms of issue.

!

Box 11. Tax-Exempt OID

REMICs, holders of ownership interests in FASITs, issuers of
CDOs, and any broker or middleman who holds as a nominee a
REMIC or FASIT regular interest or CDO must file Form
1099-OID. The form is used to report OID of $10 or more
accrued to a REMIC or FASIT regular interest holder or to a
holder of a CDO. Also, use Form 1099-OID to report other
interest accrued to a REMIC or FASIT regular interest holder
during the year or paid to a holder of a CDO. You may use Form
1099-INT rather than Form 1099-OID to report interest for an
instrument issued with OID if no OID is includible in the regular
interest holder's or CDO holder's income for the year.

For a tax-exempt obligation that is a covered security acquired
on or after January 1, 2017, enter the OID for the part of the year
it was owned by the record holder. You may, but are not required
to, report the OID for a tax-exempt obligation that is a covered
security acquired before January 1, 2017.

Boxes 12–14. State Information

These boxes may be used by payers who participate in the
Combined Federal/State Filing Program and/or who are required
to file paper copies of this form with a state tax department. See
Pub. 1220 for more information regarding the Combined
Federal/State Filing Program. They are provided for your
convenience only and need not be completed for the IRS. Use
the state information boxes to report payments for up to two
Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)

You are not required to file or issue Form 1099-OID for
exempt recipients including, but not limited to, the following.
• A corporation.
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•
•
•
•
•

A broker.
A middleman/nominee.
A financial institution.
Any IRA, Archer MSA, Medicare Advantage MSA, or HSA.
A tax-exempt organization.

see Regulations section 1.6049-7(f)(3)(ii) for information that
may be required to be reported to a real estate investment trust
(REIT) that holds a REMIC regular interest.
A single-class REMIC (as defined in Temporary Regulations
section 1.67-3T(a)(2)(ii)(B)) must include in the statement the
investment expenses paid or accrued during each calendar
quarter by the REMIC for which the REMIC is allowed a
deduction under section 212 and the proportionate share of
those investment expenses allocated to the regular interest
holder.

For additional exempt recipients, see Regulations section
1.6049-7(c).

Box 1. Original Issue Discount
Report in box 1 the aggregate amount of OID includible in the
gross income of each REMIC or FASIT regular interest or CDO
holder for the period during the year for which the return is made.
No amount should be reported in box 8.

The statement must be furnished to holders by March 15. To
meet the statement requirement, you may furnish a copy of Form
1099-OID and a separate statement containing the additional
information to the REMIC or FASIT regular interest or CDO
holder.

Box 2. Other Periodic Interest
Report in box 2 any amount of interest, other than OID, accrued
to each REMIC or FASIT regular interest holder or paid to each
CDO holder. If you are a single-class REMIC (as defined in
Temporary Regulations section 1.67-3T(a)(2)(ii)(B)), increase
the amount otherwise reportable in box 2 by the regular interest
holder's share of investment expenses of the REMIC for the
year.

For information about reporting income to REMIC residual
interest holders, see the instructions for Schedule Q (Form
1066), Quarterly Notice to Residual Interest Holder of REMIC
Taxable Income or Net Loss Allocation, in the Instructions for
Form 1066, available at IRS.gov/Form1066.

Form 8811 and Reporting by Brokers or
Middlemen

Box 9. Investment Expenses

REMICs and issuers of CDOs must also file Form 8811,
Information Return for Real Estate Mortgage Investment
Conduits (REMICs) and Issuers of Collateralized Debt
Obligations, within 30 days after the start-up date of the REMIC
or issue date of a CDO. The IRS will use the information on
Forms 8811 to update Pub. 938, Real Estate Mortgage
Investment Conduits (REMICs) Reporting Information, for use by
certain brokers, middlemen, corporations, and others specified
in Regulations section 1.6049-7(e)(4). Pub. 938 is available at
IRS.gov/Pub938.

Enter the regular interest holder's pro rata share of investment
expenses.

Statements to Holders
For each Form 1099-OID you are required to file, you must
furnish a statement to the REMIC or FASIT regular interest or
CDO holder identified on the form. The statement must contain
the information shown on Form 1099-OID, including the legend
shown on Copy B of the official Form 1099-OID, and an
indication that these items are being furnished to the IRS. The
statement must also show the information specified in
Regulations section 1.6049-7(f)(2)(ii). In addition, the statement
furnished by a REMIC must show, for each calendar quarter, the
information specified in Regulations section 1.6049-7(f)(3). Also,

For the requirements that a REMIC or CDO issuer or a broker
or middleman who holds a REMIC or FASIT regular interest or a
CDO furnish certain information on request, see Regulations
sections 1.6049-7(e) and 1.6049-7(f)(7).

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Instr. for Forms 1099-INT and 1099-OID (Rev. 01-2022)