For information returns related to foreclosed or abandoned property, such as Form 1099-A (Acquisition or Abandonment of Secured Property) or Form 1099-C (Cancellation of Debt), the IRS requires that the lender send the borrower a statement by January 31 of the year following the calendar year in which the lender acquires an interest in the property (in the case of foreclosure) or knows or has reason to know that the property was abandoned. This deadline ensures that borrowers have the necessary information to include on their tax returns for that year.