When is the statement due?

The statement must be furnished to holders by March 15.

Who must file Form 1099-OID?

REMICs, 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.

What information is reported in box 1?

The aggregate amount of OID includible in the gross income of each REMIC or FASIT regular interest holder or CDO holder for the period during the year for which the return is made.

A TIH, or Trust Indenture Holder, refers to an entity that holds interests issued by a trust or an arrangement that is treated as a grantor trust for federal income tax purposes. These interests are subject to original issue discount (OID) and must be reported on Form 1099-OID.

Original issue discount (OID) refers to the difference between the purchase price of a security and its face value. Securities with OID, such as trust interests or bonds, typically have a higher market value than their face amount due to this discount factor.

What information must be included on Form 1099-OID?

Form 1099-OID requires the reporting of the following information for each OID security: (1) name, address, and identification number of the issuer or trust; (2) issue date(s); (3) face amount; (4) accreted value; (5) adjusted issue price; and (6) any applicable state filing requirements.

What is the purpose of Form 1099-OID?

Form 1099-OID is used to report original issue discount (OID) bonds and other financial instruments for federal income tax purposes. It helps to ensure that payments made on these securities are properly accounted for, which assists the IRS in monitoring compliance with applicable laws.

When is the deadline for filing Form 1099-OID?

The deadline for filing Form 1099-OID depends on the specific circumstances of the issuer or holder. Typically, the form must be filed by January 31st following the end of the calendar year in which the OID instruments were issued or acquired.

Who is required to file Form 1099-OID?

Form 1099-OID must be filed by the trustee, issuer, or holder of a security that has original issue discount (OID). This includes but is not limited to grants of interest in a trust, debt obligations, and other financial instruments with OID.

What is the purpose of the legend statement on Form 1099-OID?

The legend statement, included in Section 3 of Form 1099-OID, must be completed by issuers or trustees. It provides a summary of the important taxpayer information required under Regulations section 1.6049-4(d) and is used to assist with reporting requirements for OID securities.

Who must receive a statement from Form 1099-OID filers?

Each Form 1099-OID filer must furnish a statement to each REMIC or FASIT regular interest holder or CDO holder identified on the form.

What is Form 1099-OID used for?

Form 1099-OID is used to report Original Issue Discount (OID) and other interest paid to REMIC or FASIT regular interest holders, or to CDO holders.

Form 1099-OID

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Original Issue Discount

Rev. January 2024

The given text provides instructions for completing the Form 1099-OID (Original Issue Discount) for tax purposes. It outlines boxes and their corresponding information, including the payer and recipient's TIN, OID amounts, investment expenses, bond premium, and state income tax withholding.

Instructions

Instructions for Forms 1099-INT and 1099-OID - Instructions for Forms 1099-INT and 1099-OID, Interest Income and Original Issue Discount

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Form 1099-OID

FAQ

When is the statement due?
The statement must be furnished to holders by March 15.
Who must file Form 1099-OID?
REMICs, 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.
What information is reported in box 1?
The aggregate amount of OID includible in the gross income of each REMIC or FASIT regular interest holder or CDO holder for the period during the year for which the return is made.
What is a TIH?
A TIH, or Trust Indenture Holder, refers to an entity that holds interests issued by a trust or an arrangement that is treated as a grantor trust for federal income tax purposes. These interests are subject to original issue discount (OID) and must be reported on Form 1099-OID.
What is OID?
Original issue discount (OID) refers to the difference between the purchase price of a security and its face value. Securities with OID, such as trust interests or bonds, typically have a higher market value than their face amount due to this discount factor.
What information must be included on Form 1099-OID?
Form 1099-OID requires the reporting of the following information for each OID security: (1) name, address, and identification number of the issuer or trust; (2) issue date(s); (3) face amount; (4) accreted value; (5) adjusted issue price; and (6) any applicable state filing requirements.
What is the purpose of Form 1099-OID?
Form 1099-OID is used to report original issue discount (OID) bonds and other financial instruments for federal income tax purposes. It helps to ensure that payments made on these securities are properly accounted for, which assists the IRS in monitoring compliance with applicable laws.
When is the deadline for filing Form 1099-OID?
The deadline for filing Form 1099-OID depends on the specific circumstances of the issuer or holder. Typically, the form must be filed by January 31st following the end of the calendar year in which the OID instruments were issued or acquired.
Who is required to file Form 1099-OID?
Form 1099-OID must be filed by the trustee, issuer, or holder of a security that has original issue discount (OID). This includes but is not limited to grants of interest in a trust, debt obligations, and other financial instruments with OID.
What is the purpose of the legend statement on Form 1099-OID?
The legend statement, included in Section 3 of Form 1099-OID, must be completed by issuers or trustees. It provides a summary of the important taxpayer information required under Regulations section 1.6049-4(d) and is used to assist with reporting requirements for OID securities.
Who must receive a statement from Form 1099-OID filers?
Each Form 1099-OID filer must furnish a statement to each REMIC or FASIT regular interest holder or CDO holder identified on the form.
What is Form 1099-OID used for?
Form 1099-OID is used to report Original Issue Discount (OID) and other interest paid to REMIC or FASIT regular interest holders, or to CDO holders.

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Tax forms

Form 1099-OID is one of Tax forms that are documents used to report information about an individual's or business's income, deductions, and tax liability to the relevant tax authority. These forms are necessary to comply with tax laws and fulfill tax obligations. Tax forms vary depending on the country and the specific tax requirements in place. Here are some common types of tax forms:

Individual Tax Forms: These forms are used by individual taxpayers to report their personal income and claim deductions, credits, and exemptions. Examples include the 1040 form in the United States or the Self-Assessment Tax Return form in the United Kingdom.

Business Tax Forms: Business tax forms are used by companies, partnerships, or self-employed individuals to report their business income, expenses, and other tax-related information. Examples include the Schedule C form (Profit or Loss from Business) in the United States or the CT600 form (Company Tax Return) in the United Kingdom.

Payroll Tax Forms: These forms are used by employers to report the wages, salaries, and taxes withheld from their employees' paychecks. Examples include the W-2 form in the United States or the P60 form in the United Kingdom.

Sales Tax Forms: Sales tax forms are used by businesses to report and remit sales tax collected on taxable goods or services. The specific sales tax forms vary by jurisdiction.

Value Added Tax (VAT) Forms: VAT forms are used in countries that impose a value-added tax to report and remit VAT collected on sales and claim VAT credits for purchases. Examples include the VAT return forms used in many countries.

Estimated Tax Forms: Estimated tax forms are used to report and pay estimated taxes on income that is not subject to withholding, such as self-employment income or investment income.

These are just a few examples of the numerous tax forms that may exist. The specific forms required depend on the tax laws and regulations in your country or jurisdiction. It is important to consult the tax authority's guidelines or seek professional advice to determine which forms are applicable to your situation.

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