How long do companies have to keep records of the 1099 forms they sent out?

Companies are generally required to keep copies of the 1099 forms they issued for at least three years from the due date of the return or the date it was filed, whichever is later. This retention period aligns with the IRS's statute of limitations for audits. However, it is advisable for businesses to retain records for longer, especially if there are concerns about potential audits or discrepancies. Always check with a tax professional for specific compliance requirements.