- Borrower’s (debtor’s) name, address, and taxpayer identification number (usually their Social Security number)
- Amount of debt canceled and the date when it was canceled.
Countries and Languages
| Countries | Languages |
|---|---|
| USA | English |
Extracted Fields
Basic Form Information
| Field | Description |
|---|---|
| Void | Specifies that the form is void. |
| Corrected | Specifies that the form is being submitted to correct data provided earlier. |
Creditor’s Details
| Field | Description |
|---|---|
| Name | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| Street | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| City | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| State | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| ZIP Code | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| Country | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| Phone | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| Phone Extension | The name, address, phone number, and tax identification number (TIN) of the creditor. |
| Creditor’s TIN | The name, address, phone number, and tax identification number (TIN) |
Debtor’s Details
| Field | Description |
|---|---|
| Name | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Address | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Street | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| City | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| State | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| ZIP Code | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Country | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Phone | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Phone Extension | The name, address, phone number, and tax identification number (TIN) of the debtor. |
| Creditor’s TIN | The name, address, phone number, and tax identification number (TIN) of the debtor. |
Account and Identification Information
| Field | Description |
|---|---|
| Account Number | The unique number used by the payer to identify the payment recipient. |
| Date of Identifiable Event | The date of the earliest identifiable event or the date of the actual discharge, if it occurred before the earliest identifiable event. |
| For Calendar Year | The calendar year for which the canceled debt is being reported. |
| Amount of Debt Discharged | The total amount of debt that was canceled or forgiven by the creditor. |
| Interest if Included in Box 2 | Any interest included in the canceled debt amount. |
| Debt Description | A brief description of the type of debt that was canceled, such as credit card debt, mortgage debt, or student loan debt. |
| Debtor Was Personally Liable for Repayment of Debt | Specifies whether the debtor was personally responsible for repaying the canceled debt. |
| Identifiable Event Code | The code of the event that led to the debt cancelation. Possible values: - A (bankruptcy) - B (other judicial debt relief) - C (statute of limitations or expiration of deficiency period) - D (foreclosure election) - E (debt relief from probate or similar proceeding) - F (by agreement) - G (decision or policy to discontinue collection) - H (other actual discharge before identifiable event) |
| Fair Market Value | The fair market value of the property that was foreclosed or repossessed in connection with the canceled debt. |
Key Fields
- Creditor’s Details/Name
- Creditor’s TIN
- Debtor’s Details/Name
- Debtor’s TIN
- Account Number
- Date of Identifiable Event
- For Calendar Year
- Amount of Debt Discharged
- Identifiable Event Code
Validation Rules
| Rule | Description |
|---|---|
| Advanced Script Rule | Checks for a valid 4-digit year in the For Calendar Year field. If the value is a 2-digit year, it replaces the extracted value with a 4-digit year. If the two-digit year starts with a 9 (such as “98” or “99”), it assumes the century is the 1900s and prepends 19. For any other digit (such as “07”, “23”, “25”), it assumes the century is the 2000s and prepends 20. For example: If the input is CY 25, it becomes 2025. If the input is Fiscal Year 98, it becomes 1998. If the input is just 23, it becomes 2023. |