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What Is Form 1099-DIV?

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 to 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.!