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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1099-OID
for the current year.
IRS Form 1099-OID Original Issue Discount
What Is IRS Form 1099-OID?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. As of today, no separate filing guidelines for the form are provided by the IRS.
FAQ
Q: What is IRS Form 1099-OID?
A: IRS Form 1099-OID is a tax form used to report original issue discount (OID) income.
Q: What is original issue discount (OID) income?
A: Original issue discount (OID) income is the difference between the face value of a debt instrument and its stated redemption price at maturity.
Q: Who must file IRS Form 1099-OID?
A: Banks, financial institutions, and other issuers of debt instruments must file IRS Form 1099-OID if they paid OID income of $10 or more to the recipient.
Q: Who receives IRS Form 1099-OID?
A: Recipients of OID income, such as bondholders or investors, receive IRS Form 1099-OID from the issuer or payer.
Q: What information is reported on IRS Form 1099-OID?
A: IRS Form 1099-OID reports information about the OID income received, including the recipient's name, address, and taxpayer identification number.
Q: When is IRS Form 1099-OID due?
A: IRS Form 1099-OID must be filed with the IRS by January 31st of the year following the calendar year in which the OID income was paid.
Q: Do I need to attach IRS Form 1099-OID to my tax return?
A: No, you don't need to attach IRS Form 1099-OID to your tax return. However, you should keep a copy of the form for your records.
Q: What happens if I don't receive IRS Form 1099-OID?
A: If you believe you should have received IRS Form 1099-OID but haven't, you should contact the issuer or payer to request a copy.
Q: Can I request an extension to file IRS Form 1099-OID?
A: No, there is no automatic extension for filing IRS Form 1099-OID. It must be filed by January 31st.
Q: What are the penalties for not filing IRS Form 1099-OID?
A: The penalties for not filing IRS Form 1099-OID can range from $50 to $270 per form, depending on how late the form is filed.
Form Details:
- A 9-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1099-OID through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1099-OID Original Issue Discount
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