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What Is Form 1099-DIV?

Table of Contents

Form 1099-DIV is filed by banks and financial institutions to report dividends and other distributions to taxpayers.

Who Should File 1099-DIV?

File a 1099-DIV to people who:

  • Pay dividends (capital gain dividends and exempt-interest dividends) and other distributions of stock more than $10
  • You have withheld and paid foreign tax on dividends and other distributions
  • Have withheld federal income tax on dividends
  • You have paid more than $600 as part of the liquidation

If you are unable to determine if a payment is a dividend by the time you file Form 1099-DIV, the entire payment must be reported as a dividend.

Exceptions For Form 1099-DIV

You are not required to report the following on 1099-DIV:

  • Taxable dividend distributions from life insurance contracts and employee stock ownership plans
  • Substitute payments in lieu of dividends

Payments made to a corporation, tax-exempt organization, any IRA, Archer MSA, Health Savings Account (HSA), U.S. agency, state, the District of Columbia, U.S. possession, or registered securities or commodities dealer.

Not Qualified Dividends

  • Dividends the recipient received on any share of stock held for less than 61 days during the 121-day period that began 60 days before the ex-dividend date
  • Dividends attributable to periods totaling more than 366 days that the recipient received on any share of preferred stock held for less than 91 days during the 181-day period that began 90 days before the ex-dividend date
  • Dividends that relate to payments that the recipient is obligated to make considering short sales or positions in similar or related property
  • Dividends paid by a Regulated Investment Company (RIC) that are not treated as qualified dividend income under section 854
  • Dividends paid by a real estate investment trust (REIT) that are not treated as qualified dividend income under section 857(c)
  • Deductible dividends paid on employer securities

2020 1099-DIV Deadlines

Following are the due dates for each filing type. Forms must be transmitted to the IRS before the deadline.

  • Recipient copy > January 31
  • IRS eFiling > March 31
  • IRS Paper Filing > February 28

If a due date falls on a weekend or holiday, it will be due the next business day.

How to eFile 1099-DIV Form for the Year 2020?

Tax1099 is the go-to source for your 1099 filings. You can eFile Form 1099-DIV Online for the year 2020 using Tax1099. Don’t wait for the deadline – eFile Now!