Can the statement be electronically signed?

Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. §7001) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.

What if the recipient's TIN is incorrect?

Correct the record immediately and file an amended return if the IRS has already been notified. An incorrect TIN can trigger IRS mismatch notices and potential penalties.

How do I correct a filed information return?

File a corrected return with the IRS using the correct information return procedure (for example, corrected 1099 filings) and provide corrected copies to recipients.

When is notarization required?

Notarization is rarely required for standard tax statements; check state rules if the statement includes affidavit-like attestations or is used in a special local filing.

Who is authorized to sign the statement?

An authorized company officer or designated payroll/finance representative should sign or authenticate the statement according to internal authority policies.

How long must I keep copies?

Keep statements and supporting documentation at least three years for IRS purposes (IRC §6501(a)), and longer where industry rules apply or state law requires it.

Electronic Signature
Templates
Tax
Tax Annual Information Statement

Tax Annual Information Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

TAX ANNUAL INFORMATION STATEMENT

Taxpayer Name: Business / DBA: Tax Year:

Permanent Address

Entity Type / Classification

Select the box that best describes the taxpayer's tax classification for the tax year reported. Multiple selections may require separate attachment explaining allocation.

Entity Type (check applicable) Individual / Sole Proprietor C Corp S Corp Partnership Trust / Estate LLC Other

Taxpayer Identification Number (TIN)

Provide either Social Security Number (SSN) or Employer Identification Number (EIN). Do not leave both blank.

SSN: EIN:

Contact and Preparer Information

Primary Contact Telephone Email

Annual Tax Summary

Report amounts for the tax year indicated above. Enter negative amounts with a leading minus sign and attach supporting schedules as required by law.

Gross Income Adjustments / Deductions Taxable Income Total Tax Liability Federal Tax Withheld Estimated Payments / Credits Balance Due (or Refund if negative)

Supporting Documentation

Attachments and Explanation

Certification and Perjury Statement

Under penalties of perjury, I declare that I have examined this Tax Annual Information Statement, including accompanying schedules and attachments, and to the best of my knowledge and belief the statements made herein are true, correct, and complete.

Taxpayer Identification Number shown on this statement is correct and complete to the best of my knowledge.
The reported income, deductions, credits and payments are accurately reflected for the tax year indicated and are supported by taxpayer records maintained in the ordinary course of business or personal affairs.
I am not filing this statement for the purpose of evading tax or facilitating tax fraud, and I understand that willful misrepresentation or omission may subject me to civil penalties and criminal prosecution under applicable law.
If signing on behalf of an entity, I certify that I am authorized to execute this statement on behalf of the entity and to bind the entity with respect to the representations made herein.
I agree to retain and produce, upon lawful request, records necessary to substantiate the amounts reported and to provide supplemental explanations if required by the tax authority requesting this statement.

Additional Declarations (if applicable)

Taxpayer Printed Name:

Signature:

Date:

What the Tax Annual Information Statement Is

A Tax Annual Information Statement is a formal record prepared by a payer or reporting entity that summarizes payments, reportable benefits, or other taxable transactions for a single calendar or tax year. It is used to notify recipients of amounts they must report on their federal and state tax returns, and to support information returns filed with the IRS or applicable state tax authorities. The statement can accompany or mirror standard IRS forms (for example, 1099-series, W-2) or serve as an internal annual summary for payroll, benefits, or contractor payments.

Why the Tax Annual Information Statement Matters

A clear annual information statement reduces reporting errors, supports IRS compliance, and helps recipients prepare accurate tax returns. It creates an audit trail tying payments to reporting obligations and protects both payers and recipients against penalties for late or incorrect filings.

Who Prepares and Receives These Statements

The statement is relevant to payroll, accounting, tax compliance, and recipients who use the information to complete individual or business tax returns.

Employers and payroll teams preparing wage summaries and W-2-like statements for employees.
Finance or accounts payable teams reporting nonemployee compensation and issuing 1099-series statements.
Independent contractors, vendors, and payees who receive annual payment summaries for tax filing.

Step-by-step: Completing the Statement

Follow these sequential tasks to prepare, verify, and deliver an accurate Tax Annual Information Statement.

01

Gather Records: Collect invoices, payroll reports, and W-9s for the tax year.
02

Populate Fields: Enter payer, recipient, TIN, amounts, and withholding.
03

Validate TINs: Use IRS TIN matching or payer records to confirm accuracy.
04

Deliver & File: Send statements to recipients and file required returns with IRS.

Configuring an Online Workflow for Annual Statements

Set up a repeatable workflow in your document or eSignature system to ensure consistent data entry, review, and filing.

Field	Configuration
Authentication	Email + SMS code or stronger KBA
Template	Locked template with required fields
Bulk Send	Batch upload CSV and map fields
Routing Order	Payer → Approver → Recipient

How Statements Are Routed and Filed

Typical routing connects internal payers, approvers, recipients, and tax authorities. Use consistent formats to streamline downstream filing.

Internal Review: Accounting validates amounts and TINs before approval.
Recipient Delivery: Provide recipient copy by mail or secure eDelivery.
IRS Submission: File corresponding information returns electronically or by paper as required.
Record Retention: Archive signed statements and audit trail securely.

Technical Needs for eSubmission and eSigning

Ensure the platform can export signed copies, generate audit logs, and retain records to meet IRS and industry retention rules.

File Formats: PDF and DOCX support required
Integrations: Connectors for NetSuite, Salesforce, Google Workspace
Authentication: Email, SMS, or advanced KBA available

Key Filing and Distribution Deadlines

Timely distribution to recipients and filing with tax authorities prevents penalties. Confirm deadlines for the specific information return that matches your statement.

Provide to Recipient:

By Jan 31 for most information returns

1099-NEC Filing:

File recipient and IRS copies by Jan 31

1099-MISC Paper to IRS:

Paper filing deadline Feb 28

1099-MISC Electronic to IRS:

Electronic filing deadline Mar 31

Individual Return:

Individual return due Apr 15 (Form 1040)

Milestones from Preparation to Filing

Track these milestones to manage a high-volume annual reporting cycle and allow time for corrections or TIN matching.

01

Data Collection

Assemble payee records and W-9s for the calendar year.

02

Internal Reconciliation

Reconcile payments against general ledger and payroll reports.

03

Recipient Delivery

Distribute statements to recipients and collect discrepancies.

04

IRS Filing

File information returns and retain proof of submission.

Penalties and Risks of Errors

Late 1099 Penalty: $60 per form typically

Delayed Filing: Higher brackets up to $330 per form

Intentional Disregard: $660+ per form

Incorrect TIN: Triggers IRS mismatch and notices

Backup Withholding: 24% withholding rate applies

I-9 / Employment: $281–$2,789 per violation

Security and Compliance Considerations

Encryption: AES-256 at rest

In-transit: TLS 1.2/1.3

Audit Trail: Timestamps and IP logs

HIPAA: BAA available

ESIGN / UETA: Meets U.S. e-sign law

Access Controls: Role-based permissions

How This Statement Differs From Standard IRS Forms

Compare the Tax Annual Information Statement against a common specific return to clarify purpose and filing obligations.

Criteria	Tax Annual Information Statement	Form 1099-NEC
Purpose	payee summary	nonemployee compensation
IRS Filing Required	sometimes
Recipient Copy
Typical Deadline	varies	jan 31

Practical Tips for Accurate and Efficient Statements

Adopt consistent processes and validation to reduce rework and IRS notices.

Collect W-9s Before Payment

Request and store a completed W-9 from payees before the first payment to ensure you have an accurate TIN and legal name for reporting.

Use TIN Matching

Validate recipient TINs via IRS TIN-matching for large-volume payers to reduce mismatch notices and penalties before filing.

Standardize Templates

Use locked templates with required fields and validation to prevent omissions and enforce consistent formatting across all statements.

Keep an Audit Trail

Record approvals, changes, and delivery receipts; a retrievable audit trail supports defense against penalty assessments.

eSignature Pricing and Feature Comparison

Compare typical starting prices and basic feature availability for commonly used eSignature vendors. Confirm plan details with each vendor before purchasing.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	Yes
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Frequently Asked Questions

Answers to common questions about preparing, signing, and filing Tax Annual Information Statements.

Need help? Contact support

Can the statement be electronically signed?
Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. §7001) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.
What if the recipient's TIN is incorrect?
Correct the record immediately and file an amended return if the IRS has already been notified. An incorrect TIN can trigger IRS mismatch notices and potential penalties.
How do I correct a filed information return?
File a corrected return with the IRS using the correct information return procedure (for example, corrected 1099 filings) and provide corrected copies to recipients.
When is notarization required?
Notarization is rarely required for standard tax statements; check state rules if the statement includes affidavit-like attestations or is used in a special local filing.
Who is authorized to sign the statement?
An authorized company officer or designated payroll/finance representative should sign or authenticate the statement according to internal authority policies.
How long must I keep copies?
Keep statements and supporting documentation at least three years for IRS purposes (IRC §6501(a)), and longer where industry rules apply or state law requires it.

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