TaxBandits Knowledge Base

When will I receive Form 1099-DIV filing penalties?

You may receive Form 1099-DIV filing penalties for the following reasons:

• Not filing 1099-DIV by the due date
• Not filing a proper 1099-DIV paper form that's machine-readable.
• Using the form 1099-DIV for the wrong year
• Not using the correct copy of Form 1099-DIV
• Filing with an Incorrect or missing TIN
• Filing with the incorrect information

The current penalties for filing a late or incorrect 1099-DIV form are as follows:

• $60 per form if you file within 30 days of the due date.
• $120 per form if you file more than 30 days after the due date but before August 1.
• $310 per form if you file on or after August 1.
• If you intentionally disregard the requirement to file Form 1099-DIV or intentionally file a false or fraudulent form, you may be subject to a penalty of $630 per form.

To avoid penalties, it's important to e-file the 1099-DIV form on time and ensure that the information is accurate and complete using an IRS-authorized e-file provider like TaxBandits. We handle filing your forms with the Federal and State and distribute form copies to your recipients on time.