When do 1098 forms have to be mailed
The IRS requires that Form 1098, Mortgage Interest Statement, be mailed to borrowers by January 31st of each year. This deadline applies to mortgage lenders and servicers who are required to file Form 1098 with the IRS and provide a copy to the borrower.
The deadline for mailing Form 1098 is January 31st of each year, which is the same deadline for filing the form with the IRS. This means that mortgage lenders and servicers must:
- File Form 1098 with the IRS by January 31st of each year.
- Mail a copy of Form 1098 to the borrower by January 31st of each year.
It's important to note that the deadline for mailing Form 1098 is January 31st, not February 1st or any other date. Mortgage lenders and servicers who fail to meet this deadline may be subject to penalties and fines.
Additionally, the IRS requires that Form 1098 be mailed to the borrower's last known address. If the borrower has moved, the lender or servicer should use the borrower's last known address to ensure timely delivery of the form.
It's also important to note that the deadline for mailing Form 1098 may vary if the lender or servicer is unable to obtain the borrower's address. In such cases, the lender or servicer may be able to use alternative methods to provide the form to the borrower, such as electronic delivery or publication in a local newspaper.