No. Form 1098-VLI does not replace Form 1099-INT.
You have probably filed 1099-INT for years. When a second “interest” form showed up for vehicle loans, it was easy to assume it was the same job with a new number. It is not. Both report interest. That is about where the overlap ends.
- 1099-INT — interest you paid (money out).
- 1098-VLI — specified passenger vehicle loan interest you received (money in).
- Thresholds differ: generally $10+ (or other 1099-INT rules) paid vs $600+ SPVL interest received on one loan.
- Interest you pay on a reimbursement of overpaid interest belongs on 1099-INT, not in 1098-VLI Box 1.
- Same January calendar for statements; e-file count aggregates all information returns, so both forms add to the 10-return total.
Form basics: Form 1098-VLI explained. Statute: §6050AA. Official: Instructions for Form 1098-VLI, Instructions for Form 1099-INT.
Direction of the money
1099-INT is a payer form. You file it for reportable interest paid to someone in the course of your trade or business (see the current 1099-INT instructions for the exact dollar triggers and boxes).
1098-VLI is a recipient / lender form. Box 1 is vehicle loan interest received. The borrower is the payer of record. Your 1099-INT extract comes from interest expense / deposit interest paid. Your 1098-VLI extract comes from interest collected on SPVLs — plus VIN, dates, and principal your 1099 file never carried.
| Form 1098-VLI | Form 1099-INT | |
|---|---|---|
| What it reports | SPVL interest received | Interest paid (and related 1099-INT amounts) |
| Who files | Lender / interest recipient | Person who paid the interest |
| Typical threshold | $600+ SPVL interest on one loan (per instructions) | Often $10+ (see current 1099-INT rules; some amounts use other thresholds) |
| Borrower / payee statement | Generally January 31 | Generally January 31 |
| IRS return | Feb 28 paper / March 31 e-file (typical information-return calendar) | Same pattern |
What 1098-VLI needs that 1099-INT never did
Beyond the interest total, 1098-VLI asks for vehicle and loan detail: year / make / model / VIN, origination and (if applicable) acquisition dates, outstanding principal, and prior-year interest refunds in Box 5. Boxes 6–7 cover original use and U.S. final assembly. Field walkthrough: line by line.
Box 1 also has its own inclusions and exclusions (for example, interest tied to negative equity, certain insurance, or unrelated property financed with the note). That is loan-system export logic, not a rename of your 1099-INT job.
One relationship, two returns
The instructions draw a hard line on interest paid on a reimbursement of overpaid interest: when that interest is reportable on Form 1099-INT, it must not be included on Form 1098-VLI.
In plain terms:
- Vehicle loan interest received from the borrower → 1098-VLI (when SPVL rules and the $600 test apply)
- Interest paid out in the course of your business → 1099-INT (when those rules apply)
- Interest of $10 or more paid on a reimbursement → 1099-INT, not 1098-VLI Box 1
Same member, same note, same January — still two different returns when both fact patterns show up. Do not merge them into one “interest” workflow.
Deadlines and the e-file count
Furnish and file dates for 1098-VLI sit on the familiar information-return calendar — filing deadlines. The e-file mandate generally looks at aggregated information returns across types. Adding 1098-VLI volume does not create a separate 10-return silo; it adds to the pile that already includes 1099-INT and everything else.
For 2025 interest only, Notice 2025-57 offered transition relief for 1098-VLI reporting. That does not rewrite 1099-INT, and it does not soft-pedal 2026 interest. Overview: IRS car loan interest reporting.
“Is there a 1099-VLI?”
No. The IRS form for this SPVL reporting is Form 1098-VLI. People search “1099-VLI” because 1099-INT is the interest form they already know. Wrong number.
If borrowers ask where the amount goes on their return, point them to a tax professional. Your job is to report and furnish correctly; theirs is the deduction.
Bottom line
Keep your 1099-INT process. Stand up a separate 1098-VLI extract for SPVL interest received, with VIN and loan fields. Upload / file path if you use us: how to upload borrower data, sign up.
Educational information only, not legal or tax advice. Confirm thresholds and box rules against the current Form 1098-VLI and Form 1099-INT instructions for your filing year.
