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Why do some bank 1099-int fill in forms all ready have the bank's federal id number but other banks do not even have a space for me in to fill in the banks fein?

How does IRS know which bank it is if there is no attached fein form?
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1 Reply
KrisD15
Expert Alumni

Why do some bank 1099-int fill in forms all ready have the bank's federal id number but other banks do not even have a space for me in to fill in the banks fein?

If the bank is reporting interest they paid you, the IRS really only cares that you claim it as income, they don't really track to see if the bank reports it as an expense. 

You pay tax on the income, banks don't pay tax on expenses, so the IRS wants YOUR social security number on the form and that's all they need. 

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