Which form is one that must be submitted annually?

The correct answer is the form that must be submitted annually is the 945. This form is used to report withheld federal income tax from nonpayroll payments, such as payments made to independent contractors and certain other types of payments reported on forms like the 1099 series.

Form 945 is required to be filed once a year, typically by January 31 of the following year, which aligns with the requirement to report the withholding to the IRS for nonpayroll transactions. This annual submission allows the IRS to track withholding for nonpayroll income, ensuring compliance with tax law.

In contrast, the other forms mentioned serve different reporting purposes. For example, the W-2 is filed annually but is specific to wages paid to employees and needs to be submitted for each employee. Similarly, the W-3 is a summary form that reconciles the total W-2s submitted and is also submitted yearly but is dependent on the W-2 forms. The 1099 form is used for reporting various types of income other than wages, salaries, and tips, with different 1099 forms having varying filing frequencies, but many are required to be submitted on a basis other than annually.

Understanding the specific requirements and purposes of these forms is crucial for