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OB3 Impact: Information Reporting Changes for Financial Institutions

08.04.2025 | Duration: 24:45

Listen as our leaders discuss how the One Big Beautiful Bill Act impacts banking info reporting.

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Podcast Overview

The recent passage of the One Big Beautiful Bill Act (OB3) has brought significant changes to information reporting requirements, particularly affecting the banking sector. As discussed in our latest podcast episode, these changes have substantial implications for financial institutions.
 
Listen as Elizabeth L'Hommedieu and Kelli Wooten from the KPMG Banking & Capital Markets Tax practice discuss the latest developments in information reporting changes affecting the banking sector.
 
Key topics covered in this episode include:

  • New auto loan reporting requirements
  • Changes to Form 1099-MISC and NEC reporting thresholds
  • Updates on Changes to Form 1099-MISC and NEC reporting thresholds
  • 1099-K reporting for third-party settlement organizations
  • Excise tax implications for remittance transfer providers

Tune in to learn more about the operational changes financial institutions may face and how to prepare for these new regulations.

Regulatory Alerts

Quick hitting summaries of specific regulatory developments and their impact.

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Meet our podcast team

Image of Elizabeth B. L'Hommedieu
Elizabeth B. L'Hommedieu
Principal, Washington National Tax, KPMG US
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Image of Elizabeth B. L'Hommedieu
Elizabeth B. L'Hommedieu
Principal, Washington National Tax, KPMG US
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