What is the FATCA filing requirement in Form 1099-MISC?
1.5k views | Last modified 1/27/2021 4:43:12 AM EST

Applicable To
Form 941 Form 1099 / W-2 Form 2290

While filing Form 1099-MISC, there will be a checkbox for the FATCA filing requirement. To check the box, there are some conditions to be met. 

Check the box if 

  • you are a U.S. payer reporting on Form 1099 as part of satisfying your requirement to report with respect to a U.S. account for chapter 4 purposes as described in Regulations section 1.1471-4(d)(2)(iii)(A).
  • you are a Foreign Financial Institution (FFI) reporting payments to a U.S. account pursuant to an election described in the Regulations section 1.1471-4(d)(5)(i)(A).
  • you are an FFI making the election described in Regulations section 1.1471-4(d)(5)(i)(A) and are reporting a U.S. account for chapter 4 purposes to which you made no payments during the year that are reportable on any applicable Form 1099.

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