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Official form guide
Form 1097-BTC: Bond Tax Credit
IRS Form 1097-BTC is used to report Bond Tax Credit amounts and who receives them. It must be furnished quarterly by the 15th day of the 2nd calendar month after the credit was allowed.
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IRS Form 1097-BTC - Bond Tax Credit
IRS Form 1097-BTC is used to report Bond Tax Credit amounts and who receives them. It must be furnished quarterly by the 15th day of the 2nd calendar month after the credit was allowed.
Risk Radar
Scan points- 1Do not truncate the recipient's TIN on the form filed with the IRS.
- 2Filing without entering the correct Issuer's TIN (e.g., EIN).
- 3Truncating the recipient's TIN on the main form filed with the IRS.
- 4Omitting the address of the entity's principal office instead of using a P.O. box number when applicable.
- 5Not furnishing a statement to the recipient quarterly by the specified deadline.
Plain English
This form tells the IRS how much tax credit money was distributed from a bond during the year. It allows issuers or parties distributing the credits to report these amounts to the recipient, who then uses it for their tax filing. The tax credit amount is treated as interest income and must be reported on a Form 1099-INT or 1099-OID.
Submission Date
- Filing date: 2025-04-01 12:55:01
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an issuer distributes a Bond Tax Credit to a recipient for the calendar year.
- Do not use this form when reporting tax credits that are not from a bond, or if the credit is not being distributed to another party.
- Check Form 1099-INT or Form 1099-OID instead when the tax credit is treated as interest income and reported on those forms.
Form selector
Use this form or another form?
Bond is redeemed or matures
The same ratable determination of credit applies to these events.
✓ Check instructions for specific bond types.
Clean renewable energy bonds (pass-through entity)
The tax credit allowance is limited to the income received from the pass-through entity.
✓ Verify limits against Form 8912.
New clean renewable or qualified energy conservation bonds
The reported credit amount reflects a limit of 70% of the determined credit under section 54A(b).
✓ Confirm this limitation when filling out Box 5a-5l.
Deadline or filing window
The primary deadline for furnishing statements to recipients is quarterly, requiring submission by the 15th day of the 2nd calendar month following the quarter end. Failure to file electronically when required also incurs a penalty. Refer to General Instructions for specific due dates.
Checklist
What you need before filling it out
Total amount of credits distributed
Total credit amounts reported in boxes 5a–5l · Box 1
Issuer's TIN
The issuer's Taxpayer Identification Number (e.g., EIN) · Form 1097-BTC Issuer's TIN box
Recipient's TIN
The recipient of the distributed or stripped credit · Recipient's TIN box
Credit Allowance Date (Build America bonds)
Interest payment dates · Instructions p.2
Clean Renewable Energy Bond Limit
The credit amount after the 70% limit has been applied · Form p.3 (General)
Before you submit
- 1Verify that you have included the suite, room, or other unit number after the street address.
- 2Confirm that the entity's principal office address (not just the registered agent's) is entered on the form.
- 3Ensure the Issuer's TIN is complete and not truncated in its designated box.
- 4Check whether you are filing as the issuer or as a recipient distributing credits to others.
- 5For Copy A, confirm that Box 1 contains the total amount of distributed credits for the calendar year.
- 6If applicable, verify that any additional information is entered into Box 6.
- 7Confirm that if reporting clean renewable energy bonds, the credit reported reflects the post-70% limit amount.
How to file this form
- 1Complete all required fields using the current edition of Form 1097-BTC (Rev. 4-2025).
- 2Enter the issuer's TIN and the recipient's TIN, ensuring neither is truncated on the filed copy.
- 3Calculate and enter the total credit amount in Box 1 when filing Copy A.
- 4Review all fields to confirm that the correct tax credit allowance dates are applied based on bond type.
- 5Sign the form (or have it digitally signed) before sending it to the IRS.
- 6Keep a copy of the completed and signed Form 1097-BTC for your records.
Known limitations
- 1The annual credit allowed for a standard bond obligation issued before January 1, 2018, is 70% of the annual credit amount determined by applying section 54A(b) [Instructions p.1].
- 2For qualified zone academy bonds issued before October 4, 2008, the tax credit allowance date is the last day of the 1-year period beginning on the bond's issue date and each anniversary thereafter [Instructions p.2].
- 3The recipient's TIN does not need to be truncated when filing Form 1097-BTC with the IRS, though truncation is allowed on the statement sent to the recipient [Instructions p.3].
- 4If a bond is redeemed or matures, the same ratable determination of credit applies [Instructions p.2].
Field map
Compact field-by-field guide
Payer Info
1 items
Identifying information of the business or person making the payment.
Recipient Info
1 items
Identifying information of the person or entity receiving the payment.
Amounts
1 items
The payment amount subject to reporting for the applicable box category.
Withholding
1 items
Backup withholding amount if applicable.
Signatures
1 items
Name and phone number of the person to contact about this return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision 4-2025, cataloged under number 54657F and dated November 25, 2024. For the latest information regarding Form 1097-BTC and its instructions, filers should consult IRS.gov/Form1097BTC.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 4-2025.
- Catalog Number — confirm the number is 54657F.
- Mailing address — ensure you are using the entity's principal office address, not just the registered agent's address.
- Signature — state plainly that a signature must be provided (though no specific box for it was detailed in the excerpts).
- Tax Year — confirm the form is being filed for the correct calendar year.
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Form 1097-BTC.
- 2The tax credit allowed to holders of any tax credit bonds or stripped credit coupons is treated as interest and must be reported on a Form 1099-INT or Form 1099-OID, as applicable [Instructions p.2].
- 3When filing Copy A with the IRS, Box 1 (Total) should only be filled out if the annual statement (Copy B) is being sent to the recipient [Instructions p.3].
- 4If an issuer does not have an Employer Identification Number (EIN), it must apply for one before filing Form 1097-BTC [Instructions p.3].
Sources
- SRCInstructions p.1 — Form 1097-BTC is for Bond Tax Credit; specific rules apply to obligations issued before January 1, 2018 (including Qualified Zone Academy Bonds) [Instructions p.1].
- SRCInstructions p.1 — The annual credit allowed for a standard bond obligation is 70% of the amount determined by section 54A(b) [Instructions p.1].
- SRCInstructions p.2 — For Build America bonds, the credit allowance dates are the interest payment dates [Instructions p.2].
- SRCInstructions p.3 — When filing with the IRS, do not truncate the recipient's TIN on Form 1097-BTC [Instructions p.3].
- SRCInstructions p.3 — The issuer must enter its own TIN (like an EIN) onto Form 1097-BTC and should not truncate it [Instructions p.3].
- SRCForm p.1 — Box 1 (Total) is filled out when filing Copy A and sending the annual statement (Copy B) to the recipient [Form p.1].
Common confusion points
Who must file Form 1097-BTC?
The filing requirement depends on whether an entity or person is the issuer of the bond (or its agent) or if they received a credit and are distributing part or all of it to others.
→ Check Box 1 on Form 1097-BTC to determine which category applies.
How many copies of Form 1097-BTC must be filed for one bond?
A separate Form 1097-BTC must be filed for each individual bond, even if the issuer or its agent is filing.
→ Verify that a new form is used for every distinct bond being reported.
What if a tax credit bond has multiple maturities?
Each maturity date of the tax credit bond must be reported on a separate Form 1097-BTC issued by the bond issuer or its agent.
→ Ensure each maturity receives its own dedicated Form 1097-BTC submission.
When should a recipient file Form 1097-BTC?
A recipient who is distributing the credit (such as brokers, nominees, mutual funds, or partnerships) must file only one Form 1097-BTC per recipient or account, aggregating credits from all applicable bonds.
→ Confirm that if multiple bonds are involved, the total credit is aggregated onto a single form for that recipient/account.
What address should be used on the bond issuer's section of Form 1097-BTC?
The entity must enter its principal office street address; the registered agent's state address should not be used. If mail is received via a third party, use "C/O" followed by that party's name and address.
→ Check for the "Note" on Instructions p.3 regarding using the principal office address over the registered agent address.
What happens if the recipient uses a P.O. box?
If the post office does not deliver mail to the street address, the entity must show the box number instead of the full street address.
→ Verify that the P.O. box number is listed when the street address is insufficient for delivery.
When is the tax credit allowed for a Qualified Zone Academy bond issued before October 4, 2008?
The credit allowance date is the last day of the 1-year period starting on the issue date of the bond and each anniversary of that date thereafter.
→ Confirm this specific rule applies to QZA bonds issued prior to 10/04/2008.
When must Form 1097-BTC be filed?
Filing due dates are determined by referring to the current General Instructions for Certain Information Returns, but the form must be furnished quarterly by the 15th day of the 2nd calendar month after the credit was allowed.
→ Check the general filing instructions section referenced on IRS.gov/1099GeneralInstructions for specific deadlines.
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Questions about IRS Form 1097-BTC
What is IRS Form 1097-BTC used for?
This form tells the IRS how much tax credit money was distributed from a bond during the year. It allows issuers or parties distributing the credits to report these amounts to the recipient, who then uses it for their tax filing. The tax credit amount is treated as interest income and must be reported on a Form 1099-INT or 1099-OID.
Who must file IRS Form 1097-BTC?
An issuer of a bond or its agent files Form 1097-BTC, or an entity/person that received the credit and is distributing part or all of it to others files this form.
What information does IRS Form 1097-BTC require?
The form collects details such as the Issuer's TIN (on Part I), the Recipient's Name and Street Address (on Part III), and monthly credit amounts in boxes 5a through 5l, totaling Box 1.
When is IRS Form 1097-BTC due?
If required to file Form 1097-BTC, a statement must be furnished quarterly for each credit amount on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the credit was allowed.
Where do I file IRS Form 1097-BTC?
Filing locations are determined by consulting the current General Instructions for Certain Information Returns; this form can also be filed electronically when required.
How do I complete IRS Form 1097-BTC?
The filer must complete the relevant section (Issuer or Distributor) on Form 1097-BTC. The issuer enters its TIN, while the recipient's details are provided separately. Finally, Box 1 is totaled when filing Copy A and sending the annual statement (Copy B).
What happens if IRS Form 1097-BTC is filed incorrectly?
Penalties exist for failure to file correct information returns by the due date and for failing to furnish correct payee statements, including electronic filing failures.
Who must file Form 1097-BTC?
The filing requirement depends on whether an entity or person is the issuer of the bond (or its agent) or if they received a credit and are distributing part or all of it to others. Check Box 1 on Form 1097-BTC to determine which category applies.
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