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FIEN
Returning Member

If I prepare my own 1099-INT for a Foreign bank account that does not issue one, What should I enter in the FEIN for the foreign bank?

 
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4 Replies
JamesG1
Employee Tax Expert

If I prepare my own 1099-INT for a Foreign bank account that does not issue one, What should I enter in the FEIN for the foreign bank?

Some report that using dummy 9-digit numbers will not electronically file.

 

Consider reporting the interest as other income by following these steps:

 

  • Select Federal from the left side of the menu.
  • Select Income from the left side of the menu.
  • Scroll down to Less Common Income.  Click the down arrow to the right.
  • Click Start / Revisit to the right of Miscellaneous income….
  • Click Start / Revisit to the right of Other reportable income.
  • At the screen Any other taxable income? select Add.
  • Enter the description of the income. 

The income will be listed on line 8z of the Schedule 1 Additional Income and Adjustments to Income and line 8 of the Federal 1040 tax return.


 

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rjs
Level 15
Level 15

If I prepare my own 1099-INT for a Foreign bank account that does not issue one, What should I enter in the FEIN for the foreign bank?

You not have to enter the EIN for the bank in most cases. Enter the interest as if you got a 1099-INT, but only enter the name of the bank and the amount of interest. Leave everything else blank.


There may be a few states that require the EIN, in which case you will have to use JamesG1's method.

 

If I prepare my own 1099-INT for a Foreign bank account that does not issue one, What should I enter in the FEIN for the foreign bank?

you can try 36-1234567, otherwise follow @JamesG1 

 

If I prepare my own 1099-INT for a Foreign bank account that does not issue one, What should I enter in the FEIN for the foreign bank?

 

@rjs the problem with @JamesG1 method would apply to those subject to the NIIT tax. The interest would not be included. 

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