1099 Forms › Best 1099-DIV Software for Banks
At a Glance
What is the Best 1099-DIV Software for Banks?
Financial institutions file 1099-DIV forms for dividends of $10 or more paid to shareholders. The best 1099-DIV software for banks handles high volumes, provides proper box categorization for qualified dividends, capital gains, and tax-exempt distributions, and meets financial industry security standards.
BoomTax is trusted by banks and investment firms for 1099-DIV compliance. Our platform handles the volume and complexity of dividend reporting with enterprise-grade security.
Why Banks Choose BoomTax
- High-Volume Processing: Handle thousands to hundreds of thousands of 1099-DIV forms.
- All Box Types: Support for ordinary dividends, qualified dividends, capital gains, and more.
- SOC 2 Certified: Enterprise security for financial institution requirements.
- TIN Validation: Verify shareholder TIN data before filing.
- IRS FIRE Filing: Direct electronic filing to IRS.
- Recipient Copies: Print, mail, or provide online access to statements.
1099-DIV Box Types
Dividend Boxes
- Box 1a: Total ordinary dividends
- Box 1b: Qualified dividends
- Box 2a: Total capital gain distributions
- Box 2b: Unrecaptured Section 1250 gain
Additional Boxes
- Box 3: Nondividend distributions
- Box 4: Federal income tax withheld
- Box 5: Section 199A dividends
- Box 12: Exempt-interest dividends
Bulk Filing Features
- Mass Import: Upload via Excel, CSV, or API integration.
- SFTP Transfer: Automated secure file transfers.
- Batch Validation: All records validated against IRS rules.
- Combined Filing: File 1099-DIV alongside 1099-INT and 1099-B.
All Features Included
Purchasing any BoomTax package will give you everything you need to complete your filing.
This includes:
- Federal E-File
- State E-File (ACA and 1099 CF/SF)
- Recipient Copy Download as PDF
- Official IRS Copy Download as PDF
- Unlimited Corrections
Bulk Import
Import many companies in one spreadsheet to simplify data input.
Data Validation
We validate your data against hundreds of IRS rules.
Hands Off E-File
No IRS registration or testing required.
Free Corrections
Make as many changes as needed for free.
How Banks File with BoomTax
Import Your Data
You can import your data as Excel, XML, or use files from popular payroll providers like QuickBooks, UKG, ADP, and many more.
Step-By-Step Wizard
We walk you through the process with no complicated jargon. You can also live chat with a real person as you work on your filing for hands-on help.
E-File & Mail Employee Copies
Once your data is loaded, you can e-file and distribute employee copies in minutes.
Frequently Asked Questions
Dedicated to simplifying complex IRS regulations for employers, with expertise in ACA, 1099, and W-2 compliance.
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BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.