File Form 1096 (Annual Summary and Transmittal of US Information Returns) to transmit paper Forms 1098, 1099, 5498, and W-2G to the Internal Revenue Service.
File Form 1098 (Mortgage Interest Statement) to report mortgage interest, including points, of $600 or more received by you, in the normal course of your trade or business, from an individual (including a sole proprietor). You are not required to file Form 1098 if the interest is not received in the normal course of your trade or business. The $600 threshold applies to each mortgage.
File Form 1099-A (Acquisition or Abandonment of Secured Property) for each borrower if you lend money in connection with your trade or business and, in full or partial satisfaction of the debt, you acquire an interest in property that is security for the debt, or you have reason to know that the property has been abandoned. You need not be in the business of lending money to be subject to this reporting requirement.
File Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) for each person:
File Form 1099-C (Cancellation of Debt) for each debtor for which you cancelled or discharged a debt or indebtedness owed to you of $600 or more and you are a financial institution, credit union, federal government agency, or regulated subsidiary thereof.
File Form 1099-DIV (Dividends and Distributions) for each person:
File Form 1099-G (Certain Government Payments) if you have made certain payments (unemployment compensation, refunds of state or local income tax, taxable grants, agricultural subsidies) as a unit of a federal, state, or local government.
File Form 1099-INT (Interest Income) for each person:
File Form 1099-MISC (Miscellaneous Income) for each person to whom you have paid:
File Form 1099-OID (Original Issue Discount) if the original issue discount (OID) includible in gross income is at least $10 and you are:
File Form 1099-PATR (Taxable Distributions Received From Cooperatives) for each person to whom the cooperative has paid at least $10 in patronage dividends and other distributions or from whom you withheld any federal income tax under the backup withholding rules regardless of the amount of the payment.
File Form 1099-R (Distributions From Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, Etc.) for each person to whom you have made any designated distribution from profit sharing or retirement plans, IRAs, annuities, pensions, insurance contracts, survivor income benefit plans, permanent and total disability payments under life insurance contracts, and charitable gift annuities whether or not you withheld federal income tax.
File Form 1099-S (Proceeds From Real Estate Transactions) to report the sale or exchange of real estate.
File Form 5498 (Individual Retirement Arrangement Information) for each person for whom you; maintained an individual retirement arrangement (IRA) or simplified employee pension (SEP).
File Form W-2G (Certain Gambling Winnings) to winners if the amount paid, reduced (at the option of the payer) by the amount of the wager is $600 or more and at least 300 times the amount of the wager. File Form W-2G to winners at keno if the amount paid, reduced by the amount of the wager, is $1,500 or more. File Form W-2G to winners at bingo and slot machines if the amount paid, reduced by the amount of the wager, is $1,200 or more.
If you are required to file 250 or more information returns, you must file on magnetic media. The 250 or more requirement applies separately to each type of form. File Form 4419 (Application for Filing Information Returns Magnetically / Electronically), at least thirty days before the due date of the return, to obtain approval. Use Form 4804 (Transmittal of Information Returns Reported Magnetically / Electronically), instead of Form 1096, to transmit magnetic media information returns.
Penalties apply if you fail to file information returns in a timely manner, or if you fail to include all information required to be shown on a return, or if you include incorrect information on a return. Penalties also apply if you file on paper when you were required to file on magnetic media, if you report an incorrect taxpayer identification number, if you fail to report a taxpayer identification number, or if you file to file paper forms that are machine-readable.
Provide recipients with 2017 Forms 1098, 1099, 5498, and W-2G by January 31, 2018. File 2017 Form 1096 with Forms 1098, 1099, and W-2G by February 28, 2018. File 2017 Form 1096 with Form 5498 by May 31, 2018.