How to Get a 1099-DIV Form

If you’ve invested in mutual funds, stocks, or other dividend-paying securities, it’s important to understand how your earnings are reported to the IRS. The 1099-DIV form is a tax document that details the dividends and capital gains you received throughout the year. 

What is a 1099-DIV Form? 

The 1099-DIV is a tax form used by financial institutions, like banks, to report dividends, capital gains, and other distributions to you, as the taxpayer, and to the IRS. The form summarizes your investment income for the year and is sent to you by the issuer of the securities or financial institution where your investments are held. 

Who Receives a 1099-DIV? 

You will receive a 1099-DIV form if you earned at least $10 in dividends or capital gains during the tax year. If you have a brokerage account or hold investments in mutual funds or stocks, you are likely to receive this form. It’s essential to remember that even if you reinvest your dividends, you will receive a 1099-DIV form for tax reporting purposes. 

When is the 1099-DIV Form Issued? 

The IRS requires financial institutions to mail 1099-DIV forms to their clients by January 31 of each year.

How to Obtain a 1099-DIV Form 

The institutions where you hold your investments are responsible for mailing your 1099-DIV Form. The IRS requires the forms be sent by January 31 of each year. It is important to keep your address updated for any investments you hold so there is no delay in receiving your form. 

If you haven’t received a 1099-DIV Form and you believe you should have, there are several steps you can take. 

• Access your financial institution’s online client portal. Sometimes there are tax forms posted to your account and you can download the document directly. 
• Contact your financial institution directly to verify your mailing address and reissue the form, if necessary. 
• Visit the IRS website. In some cases, the IRS might receive a copy of your 1099-DIV form before you do. You can access the information by creating an account on the IRS website using their “Get Transcript” tool. 

Understanding the 1099-DIV Form 

Once you receive the 1099-DIV form, take the time to review and understand its contents. Some of the sections include: 

• Payer Information with your name, address, Tax Identification Number (TIN), and the entity that issued the form. 
• Recipient Information including your name, address, and TIN. 
• Dividends and Distributions are listed outlining the total distributions and dividends you received during the tax year. It is divided into ordinary dividends and qualified dividends. 
• Foreign Taxes Paid. If you received foreign dividends and taxes were withheld in the foreign country, it will be reported in this section. 
• Account information with specific details about your investment account including your account number and type. 

Keeping track of your investments is crucial for accurate tax reporting. The 1099-DIV form is an important part. If you have questions or notice discrepancies regarding your 1099-DIV form, you can reach out to the entity that issued the form or consult a tax professional.