Simplify Form 1097-BTC reporting for payments from government-issued tax credit bonds. With 1099Online, you get built-in TIN-matching, bulk import, recipient copy delivery, and secure eFiling in one platform.
Form 1097-BTC is an IRS information return that reports bond tax credits distributed to recipients from specific qualifying bonds. The form covers 6 bond types:
Bond issuers, their agents, and pass-through recipients such as brokers, mutual funds, and partnerships must each file a separate Form 1097-BTC for each credit they distribute.
Form 1097-BTC should be filed by bond issuers, their agents, and anyone who receives the credit and passes it on to others. Issuers and their agents must file a separate form for each bond. Pass-through recipients, such as brokers, nominees, mutual funds, and partnerships, file one form per recipient account, combining credits from all applicable bonds. Build America bond (Direct Pay) issuers are exempt from this filing requirement.
Each Form 1097-BTC reports the total amount of credit distributed to a recipient during the year. Here is the information that you need to report:
For the annual filing, the amounts reported in boxes 5a through 5l are combined and reported as the total amount in box 1.
The IRS has not announced any changes specific to Form 1097-BTC for the 2026 tax year. The current continuous-use instructions, revised in April 2025, remain in effect for tax year 2025 and subsequent years until a new revision is issued.
If your organization distributes a reportable bond tax credit, you must meet the following IRS filing requirements:
If a filing or furnishing due date falls on a Saturday, Sunday, or legal holiday, the deadline is automatically moved to the next business day.
Quarterly recipient statements:
| Statement Type | Due Date | Notes |
|---|---|---|
| Q1 Statement | May 15, 2026 | |
| Q2 Statement | August 17, 2026 | August 15 falls on a Saturday |
| Q3 Statement | November 16, 2026 | November 15 falls on a Sunday |
| Annual Statement (includes Q4) | February 15, 2027 |
When a due date falls on a Saturday, Sunday, or legal holiday, the deadline is automatically extended to the next business day.
IRS filing deadlines:
| Filing Type | Due Date | Notes |
|---|---|---|
| Paper Filing | March 1, 2027 | February 28, 2027 falls on a Sunday |
| Electronic Filing | March 31, 2027 |
1099Online is an IRS-authorized eFile provider with built-in TIN matching, bulk import, and recipient copy delivery.
Step 1: Enter Recipient and Credit Information
Enter the required Form 1097-BTC information manually or import your data in bulk using the Excel bulk import option. Add recipient details, bond type, CUSIP or unique identifier, and the monthly credit amounts for each applicable month of the year.
Step 2: Choose Recipient Statement Delivery
Select how recipients receive their quarterly and annual statements. 1099Online supports postal mail delivery and PDF download options.
Step 3: Review and Transmit
Review your filing summary and submit your annual Form 1097-BTC securely to the IRS.
Yes. Form 1097-BTC has a $10 reporting threshold. You must file Form 1097-BTC if a recipient is allowed a tax credit of at least $10, whether that credit comes directly from holding a tax credit bond or from a separately traded portion of the bond’s tax credit (called a stripped credit coupon), during the calendar year.
Yes. If you are required to file Form 1097-BTC, you must furnish a statement to each recipient quarterly, due on or before the 15th day of the second calendar month after the close of each quarter. The fourth quarter is an exception since that credit is included in the annual statement.
No. You file Form 1097-BTC with the IRS only once per year. The quarterly deadlines apply only to the statements you must furnish to recipients (bondholders or investors) reporting their credit amounts.
For returns due in 2027, the IRS penalty schedule is: $60 per return if filed within 30 days of the deadline, $130 per return if filed by August 1, $340 per return if filed after August 1 or not filed at all, and $680 per return for intentional disregard. There is no cap on penalties in intentional disregard cases.
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