[Exception 3 – Third Party Reporting of Mortgage Interest]

Under the Internal Revenue laws, most recipients (lenders) of home mortgage interest report the amount of interest they receive from the borrower to both the IRS and the borrower. This reporting is usually done on a Form 1098, Mortgage Interest Statement. First-time filers who secure a home loan may seek an ITIN to provide to their lender. Information reporting and/or withholding requirements apply to third parties (frequently banks and other financial institutions) who will request an ITIN to enable them to file information reports that are required by law.

■Form 1098, Mortgage Interest Statement.

Persons who are eligible to claim Exception 3 include:

If you are eligible to claim Exception 3,

Individuals with a home mortgage loan on real property located in the United States.

you must submit documentation showing evidence of a home mortgage loan.

This would include:
A copy of the contract of sale or similar documentation showing evidence of a home mortgage loan on real property located in the United States.

Our team specialise with international expatriate U.S. personal tax return service. If you need assistance with US 1040 filing for refund claim/FATCA Compliance work/FBAR FINCEN114 Filing, ITIN/ Form W7 Application/EIN/Form W8BENE or CAA services/1040NR U.S. tax filing for refund claim of excess 1042S / 8288A/ 8805/ W2/ 1099. We are happy to assist our clients in a timely, efficient, and cost-effective way.

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