Posted By: Jan94
AL - 1098 Retention - 02/20/08 09:51 PM
Trying to find out if there is any Alabama requirement for a bank to provide copies of the 1098 forms that are submitted to the IRS? The bank receives a box of these forms from our processor along with a letter that indicates that the bank may have to submit them to "your state reporting office." The processor sends a tape to the IRS for the bank and a copy can be reproduced for the borrower if needed. The bank indicates that they have never been asked for these by the state and don't want to have to keep getting these forms since they have to pay the processor to print them. Would appreciate anyone's experience with this. Thank you.