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Specific Instructions for Form 1099-OID
• File Form 1099-OID, Original Issue Discount, if the original issue discount (OID) includible in gross income is at least $10 and you are any of the following:
• An issuer with any bond outstanding or other evidence of indebtedness in registered or bearer form issued with OID;
• An issuer of a certificate of deposit (CD) made, purchased, or renewed after 1970 if the CD has OID and a term of more than 1 year (see Caution on page 4);
• A financial institution having other deposit arrangements, such as time deposits or bonus-savings plans, if the arrangements have OID and a term of more than 1 year;
• A broker or other middleman holding an OID obligation, including CDs, as nominee for the actual owner;
• A trustee or middleman of a WHFIT or widely held mortgage trust (WHMT); or,
• A real estate mortgage investment conduit (REMIC), a holder of an ownership interest in a financial asset securitization investment trust (FASIT), or an issuer of a collateralized debt obligation (CDO).
Also, file Form 1099-OID for any person for whom you withheld and paid any foreign tax on OID or from whom you withheld (and did not refund) any federal income tax under the backup withholding rules even if the amount of the OID is less than $10.