What is a 1099-S Substitute Form?
You must request the transferor's TIN no later than the time of closing. The TIN request need not be made in a separate mailing, but, rather it may be made in person, in a mailing that includes other items, or electronically. The transferor is required to furnish his or her complete, non-truncated TIN and to certify that the TIN is correct.
If you use a Closing Disclosure, you may provide a copy of such statement, appropriately modified to solicit the TIN, to the transferor. Keep the 1099-S substitute form in your records for 4 years.
How to prepare 1099-S substitute form (seller’s certification and 1099-S copy)
A 1099-S substitute form can be used for the purposes of the initial collection of information from the seller, getting the seller’s TIN number certification, and as Part B (seller’s copy) of the 1099-S form.
To print the 1099-S substitute form, click on Print 1099-S Substitute Form at the bottom of the 1099-S filing page.
We recommend printing the substitute form before the closing so that you can collect the seller(s) information and signature(s) at the closing.
Signed substitute forms are for your records only. InfoTrack does not require a copy of the substitute form to be uploaded once complete.