File Form 1099-INT for Tax Year 2025 with Ease

Timely filing of Form 1099-INT is essential for accurate reporting of interest income. Below are the key deadlines:

Filing Deadlines:

• Recipient Copy: February 02, 2026** of the year following the tax year (or the next business day if it falls on a weekend/holiday).
  
  Note: ** The due date is March 16, 2026 for reporting by trustees and middlemen of WHFITs
• Paper Filing: March 02, 2026 (or the next business day if it falls on a weekend/holiday).
• E-Filing: March 31, 2026 (or the next business day if it falls on a weekend/holiday).

Meeting these deadlines helps avoid penalties and ensures compliance with IRS requirements.

The Internal Revenue Service (IRS) imposes penalties for late filing of Form 1099-INT, which reports interest income. The penalties vary based on how late the form is filed and the size of the business:

For Small Businesses (average annual gross receipts of $5 million or less):

1. Filed within 30 days after the due date: $60 per form, with a maximum annual penalty of $239,000.
2. Filed more than 30 days late but by August 1: $130 per form, with a maximum annual penalty of $683,000.
3. Filed after August 1 or not filed at all: $340 per form, with a maximum annual penalty of $1,366,000
4. Intentional disregard of filing requirements: $680 per form, with no maximum penalty.

For Large Businesses (average annual gross receipts over $5 million):

1. Filed within 30 days after the due date: $60 per form, with a maximum annual penalty of $683,000.
2. Filed more than 30 days late but by August 1: $130 per form, with a maximum annual penalty of $2,049,000.
3. Filed after August 1 or not filed at all: $340 per form, with a maximum annual penalty of $4,098,500
4. Intentional disregard of filing requirements: $680 per form, with no maximum penalty.

These penalties are outlined in the IRS guidelines on information return penalties. To avoid these penalties, ensure that Form 1099-INT is filed accurately and on time.