FATCA – Form 1099-DIV reflects reporting requirements
November 18: The IRS, by releasing a transmittal message, noted that final versions of Form 1099-DIV and the related instructions for 2015 reflect the FATCA filing requirements for certain foreign financial institutions (FFIs).
The instructions [PDF 181 KB] to Form 1099-DIV note that beginning in 2014, an FFI with a chapter 4 requirement to report a U.S. account maintained by the FFI that is held by a specified U.S. person may satisfy this requirement by reporting on Form(s) 1099 under the election described in Reg. section 1.1471-4(d)(5)(i)(A). Additionally, a U.S. payor may satisfy its chapter 4 requirements to report a U.S. account by reporting on Form(s) 1099.
Form 1099-DIV [PDF 165 KB] is among the Forms 1099 used for these FATCA reporting purpose.
