IRS Form 1096. Annual Summary and Transmittal of U.S. Information Returns

Form 1096 is a transmittal form that is used to accompany certain types of information returns when they are filed with the IRS. The form is used to summarize and transmit the information returns to the IRS.

The form consists of three parts:

• Part 1: Identification of filer, includes information about the entity that is filing the form, such as its name, address, and EIN (Employer Identification Number).
• Part 2: Total amount of payments, includes information about the total amount of payments that are being reported on the information returns.
• Part 3: Certification, includes a certification that the information provided in the form is accurate and complete.

The most important fields in the form are the entity's name and EIN, the total amount of payments being reported, and the certification.

This form is compiled in cases where an entity has filed certain types of information returns with the IRS, such as Forms 1097, 1098, 1099, 3921, 3922, or W-2G. The parties involved in the document are the entity that is filing the information returns and the IRS.

When compiling the form, it is important to make sure that all the information provided is accurate and complete. Additionally, the form must be filed on time to avoid penalties.

The advantages of the form include:

• It helps entities comply with the IRS reporting requirements for certain types of payments.
• It provides the IRS with a summary of the information returns that have been filed.

The problems that can be encountered when filling out the form include:

• The form can be complex and difficult to understand.
• The information provided on the form must be accurate and complete, which can be time-consuming and require significant effort.

Related forms include the various types of information returns that can be filed with the IRS, such as Forms 1097, 1098, 1099, 3921, 3922, or W-2G. Alternative forms include Form 1094-B, which is used by insurance providers or self-insured employers to report information about the individuals who are covered by their health insurance plans.

The form is submitted to the IRS, along with the information returns that it is summarizing, either electronically or by mail. Instances of the form are stored by the IRS.