Question

What should I do if I do not have an FEIN. System is asking for FEIN for a foreign bank account for a 1099-int.

Forum|Forum|6 years ago
February 23, 2020
3 replies
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TurboTax Deluxe Online

linaj20201

Will you be able to contact the bank? If you don't have the FEIN, you would need to paper-file your return, unfortunately.

In order to e-file, the IRS requires a valid employer identification number. If you do not have one, you would have to print out your tax forms and submit them by mail.

S

sanjaykarveAuthor

Was this not a requirement last year. Do not remember having this issue last year?

L

linaj20201

Let's try this workaround: Enter 9's as the FEIN.

Let me know if it works.

S

sanjaykarveAuthor

I did try this out and it did not work. It accepts the input in the 1099-int section but on final review it pops this it up again - this time it brings up a worksheet where it say FEIN is invalid in both cases - ie all zeros or all 9s

K

KarenJ2

You can enter the foreign bank account interest as miscellaneous income instead of interest income.

Open your return in TurboTax
Click on Wages & Income
Scroll down to All Income
Scroll down to Less Common Income
Scroll down to Miscellaneous Income, 1099-A, 1099-C
Click start
Scroll down to Other reportable income
Answer yes
Enter interest description and amount

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

S

sanjaykarveAuthor

I did try that out, but it does not have any provision for adding the foreign interest component. so how does one get the credit?

Critter

Wait a minute ... you do not need an EIN to enter interest ... in the interest section simply say you will enter the info yourself then do so on the next screen.