Instructions for Forms 1098-E and 1098-T - Introductory Material

Table of Contents

Future Developments

For the latest information about developments related to Forms 1098-E and 1098-T and their instructions, such as legislation enacted after they were published, go to www.irs.gov/form1098e or www.irs.gov/form1098t.

What's New

Truncating recipient’s identification number on paper payee statements.   Pursuant to proposed regulations §§ 1.6042-4(b) and 301.6109-4 (REG-148873-09), all filers of Forms 1098-E and 1098-T may truncate a borrower's (Form 1098-E) and student's (Form 1098-T) identification number (social security number (SSN), individual taxpayer identification number (ITIN), or adoption taxpayer identification number (ATIN)) on payee statements. See part M in the 2013 General Instructions for Certain Information Returns.

Reminders

General Instructions.   In addition to these specific instructions, you should also use the 2013 General Instructions for Certain Information Returns. Those general instructions include information about the following topics.

  • Backup withholding.

  • Electronic reporting requirements.

  • Penalties.

  • Who must file (nominee/middleman).

  • When and where to file.

  • Taxpayer identification numbers.

  • Statements to recipients.

  • Corrected and void returns.

  • Other general topics.

You can get the general instructions at www.irs.gov/form1098e or www.irs.gov/form1098t or by calling 1-800-TAX-FORM (1-800-829-3676).

Form W-9S.   You may use Form W-9S, Request for Student's or Borrower's Taxpayer Identification Number and Certification, to obtain the student's or borrower's name, address, taxpayer identification number, and student loan certification to be used when filing Form 1098-E or 1098-T. Use of Form W-9S is optional; you may collect the information using your own forms, such as admission or enrollment forms, or financial aid applications. You may collect the student's or borrower's information on paper or electronically.

Electronic submission of Form W-9S.

An educational institution, insurer, or lender may establish a system for students and borrowers to submit Form W-9S electronically, including by fax. Generally, the electronic system must:

  1. Ensure the information received is the information sent and document all occasions of user access that result in the submission,

  2. Make reasonably certain the person accessing the system and submitting the form is the person identified on Form W-9S,

  3. Provide you with the same information as the paper 
    Form W-9S, and

  4. Be able to supply a hard copy of the electronic 
    Form W-9S if the Internal Revenue Service requests it.

Also, if an electronic Form W-9S is used to obtain the borrower's certification that all the loan proceeds are used solely to pay qualified higher education expenses, your electronic system must require, as the final entry in the submission, an electronic signature by the borrower whose name is on Form W-9S. The signature authenticates and verifies the submission. See Announcement 98-27, which is on page 30 of Internal Revenue Bulletin 1998-15 at www.irs.gov/pub/irs-irbs/irb98-15.pdf.

Electronic reporting.   For Forms 1098-E and 1098-T, you must file electronically if you are required to file 250 or more returns. See part F in the 2013 General Instructions for Certain Information Returns for more information.

Penalties.   For Forms 1098-E and 1098-T, penalties may be imposed for failure to file or failure to furnish correct forms. However, under certain circumstances, the penalties may be waived. See part O in the 2013 General Instructions for Certain Information Returns for more information.

Prev  Up  Next
  Home  

More Online Instructions