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1098-E filing requirements include the correct application of the $600 threshold by the lender or servicer, aggregating interest at the borrower level, and reporting the right amount in Box 1. However, student loan interest reporting can become complicated when one borrower has multiple loans or when Box 1 includes loan origination fees or capitalized interest.
This guide explains the key Form 1098-E instructions for lenders, servicers, and other filers, with tips to help reduce common reporting errors.
Form 1098-E is the IRS information return used to report student loan interest received from an individual during the calendar year in the course of a trade or business.
It helps borrowers support their tax reporting and gives the IRS a matching record for student loan interest claimed on a return. A filer generally issues the form when reportable interest received from a borrower reaches $600 or more for the year.
This form commonly applies to banks, credit unions, student loan servicers, governmental units and agencies, educational institutions, and other holders of qualified student loans. The filing threshold is tied to the borrower, and not separately to each loan.
A filer generally must file Form 1098-E when they receive $600 or more in student loan interest from a borrower during the year as part of a trade or business. This rule can apply to lenders, schools, government agencies, and anyone else who receives student loan interest in a trade or business.
The rule works like this:
A filer may issue one Form 1098-E covering all of a borrower’s student loans or separate forms if needed. When multiple parties are involved with the same loan, the party that receives the interest first is generally responsible for filing Form 1098-E.
Note: If a filer has multiple accounts for the same borrower and files more than one Form 1098-E for that borrower, the account number field is required. This helps the filer and IRS distinguish the forms for recordkeeping and corrections.
Form 1098-E is a short form, but accuracy is still important. Before filing, check Box 1 against the filer’s student loan interest records and review the borrower’s name, address, and TIN to help avoid corrections and IRS mismatches.
Enter the borrower’s legal name, address, and TIN. Form W-9S can be used to collect the borrower’s name, address, TIN, and student loan certification. Filers may also use their own substitute form or electronic collection process, as long as it meets IRS requirements. Year-end interest totals are not enough for an accurate Form 1098-E filing if the borrower’s name, address, or TIN is missing or incorrect.
Add up the student loan interest received from each borrower across all of that borrower’s student loans. The $600 filing threshold applies to the borrower’s total interest, not to each separate loan.
Before completing Box 1, review the loan date and type of interest received. Check whether the loan date requires capitalized interest or loan origination fees to be included in Box 1. For loans made before September 1, 2004, check Box 2 when Box 1 leaves out loan origination fees or capitalized interest.
Give Copy B or a valid substitute statement to the borrower by the due date which is February 1, 2027. It can be sent electronically if the borrower consents to e-delivery and the electronic delivery rules set by the IRS are followed.
Before filing with the IRS (whether on paper or eFiling), it’s important to confirm whether the 10-or-more total information return rule requires eFiling.
Note on Form 1098-E due dates: The standard IRS due dates are January 31 to the borrower, February 28 to the IRS on paper, and March 31 if filed electronically. In 2027, January 31 and February 28 fall on Sundays, so they roll to the next business day and are as follows:
Common filing problems include applying the $600 threshold incorrectly, reporting the wrong amount in Box 1, and confusing Form 1098-E with other education-related forms.
Such mistakes can be reduced by checking each borrower’s interest total, loan dates, and identifying information before preparing the forms.
They are the filing rules for Form 1098-E. They explain who has to file the form, what amount should be reported, and how the statement should be given to the borrower and filed with the IRS.
Box 1 shows the total reportable student loan interest received for the year. If the loan was made on or after September 1, 2004, Box 1 should include eligible loan origination fees and capitalized interest received for that year.
Yes. A filer can combine a borrower’s qualifying student loan interest on one Form 1098-E. Separate forms may also be used when needed for account tracking or internal recordkeeping.
For 2026 returns filed in 2027, the borrower copy is generally due by February 1, 2027. Paper filing with the IRS is generally due by March 1, 2027, and electronic filing is generally due by March 31, 2027.
Yes. Form 1098-E must generally be filed electronically if the filer has 10 or more total information returns for the year. The threshold is based on the filer’s aggregate information returns, not just Forms 1098-E.
Report student loan interest correctly with fewer Box 1 and threshold errors. Start your Form 1098-E filing today