E-file IRS Form 1099-QA Online for 2022 Tax Year
What is a 1099-QA Form?
Form 1099-QA is used to report distributions from the Achieving a Better Life Experience (ABLE) Account for special needs individuals with a
disability. Any state, agency, or instrumentality that establishes and maintains a qualified ABLE program must
file a 1099-QA tax return (Distributions from ABLE Accounts), for each ABLE account from which any distribution
was made or that was terminated during the taxable year.
A qualified ABLE program is a program established and maintained by a state, agency, or instrumentality of a
state:
- Under which an ABLE account may be established for a blind or disabled individual whose blindness or
disability occurred earlier than the age of 26 an eligible individual is a proprietor and designated
beneficiary of the account.
- Which permits contributions to such ABLE account to pay for the qualified disability expenses of the
account’s designated beneficiary.
- Meets the alternative requirements of section 529A.
Do not file Form 1099-QA for a change in the name of the designated beneficiary on an ABLE account. If the new
designated beneficiary is an eligible individual or a member of the family of the former designated beneficiary.
How to File Form 1099-QA?
-
Box 4: Program-to-Program Transfer Checkbox
-
Box 5: ABLE Account Terminated Checkbox
-
Box 6: Other Than Designated Beneficiary
Checkbox
Information required to file Form 1099-QA:
- Taxpayer's (PAYER/RECIPIENT) information
- Account number
- Distributions information
The IRS encourages you to designate an account number for all Forms 1099-QA that you
file.
E-file your Form 1099-QA
Watch our step-by-step video to E-file Form 1099-QA by Tax2efile
Who Must File Form 1099-QA?
The filing can be done by an officer, employee of the state, agency, or instrumentality that has control of the
qualified ABLE program. If the new designated beneficiary is not an eligible individual for the tax year or is
not a member of the family of the former beneficiary, the Form 1099-QA filed concerning the former designated
beneficiary should include in Box 1 the Fair Market Value (FMV) of the assets in the ABLE account on the date on
which the change is made to the new designated beneficiary.
There are three copies of the tax returns. The first copy will go to the IRS, the second copy is for the Recipient, and the third copy is for the Payer.
When is the Deadline for Form 1099-QA?
Filing Type |
Deadline |
Recipient copy |
January 31st |
IRS Paper Filing |
February 28th |
IRS Electronic Filing |
March 31st |
Note: If the due date/deadline falls on a Saturday, Sunday, or federal
holiday, the filer will need to E-file on the next business day.
Still Have Questions?
Form 1099-QA is used A qualified ABLE program is a program established and
maintained by a state, or agency, or instrumentality of a state under may be
established for a blind or disabled individual.
Details that are required to file Form 1099-QA are: Names, TINs, or any amounts as
well as Addresses of both filer and Recipient
Yes, Tax2efile offers a bulk upload feature that allows the user to upload all the
Recipient to an excel sheet for a faster process.
Yes, Tax2efile offers printing and mailing service! Our dedicated team will print and
mail out each form you filed.
Using our fast electronic service, you can complete your filing within 5 minutes.
Tax2efile allows you to correct a mistake to the Payees’ information for TINs, Names
& amounts.
To file Form 1099-QA for a single return the filing fee is $3.25.
The IRS requires Form 1099-QA to be submitted by February 28 through the mail and by
March 31 if you file the form electronically however, recipients’ copy should be
mailed by January 31.
The penalty can be from $50 per 1099 form, the maximum penalty can be up to $194,000.
The penalty increases to $100 per 1099 form if you submit more than 30 days after
the due date, but by August 1; the maximum penalty is $556,500. If you file after
August 1, the penalty increases to $280 per 1099 form, with a maximum of $3,392,000.
Additionally, there are penalties for failure to furnish the payee statement.
If you have more questions, please refer to our FAQ page.