According to the Fatawa of Ayatullah al-Uzma Sayyid Ali Husaini al-Seestani
1525. Eid ul Fitr and Eid ul Azha prayers are obligatory during the time of Imam (A.S.), and it is necessary to offer them in congregation. However during the present times when the Holy Imam is in Occultation, these prayers are Mustahab, and may be offered individually as well as in congregation
1526. The time for Eid prayers is from sunrise till Zuhr.
1527. It is Mustahab that Eid ul Azha prayers is offered after sunrise. As for Eid ul Fitr, it is Mustahab that one should have a breakfast after sunrise, pay Zakatul Fitr and then offer Eid prayers.
1528. * Eid prayers has two Rak'ats. In the first Rak'at, a person should recite Surah al Hamd and a Surah and then they say five takbirs, and after every takbir he should recite qunut. After the fifth qunut, he should say another takbir and then perform Ruku and two Sajdah. He should then stand up and say four takbirs in the second Rak'at, and recite qunut after everyone of these takbirs. Thereafter, he should say the fifth takbir and then perform Ruku and two Sajdah. After the second Sajdah he should recite tashahhud, and then complete the prayers with Salam.
1529. Any recital or Dua will suffice in qunut of the Eid Prayers. However, it is better that the following Dua is recited: Allahumma ahlal kibriya'i wal 'azamah, wa ahlal judi wal jaburat, wa ahlal 'afwi war rahmah, wa ahlat taqwa wal maghfirah. As aluka bihaqqi hazal yawmil lazi ja'altahu lil muslimina 'ida , wali Muhammadin sal lal lahu 'Alaihi wa Alihi, zukhran wa sharafan wa karamatan wa mazida an tusalliya 'ala Muhammad wa Ali Muhammad wa an tudkhilani fi kulli khayrin adkhalta fihi Muhammadan wa Ala Muhammad wa an tukhrijani min kulli su'in akhrajta minhu Muhammadan wa Ala Muhammad salawatuka 'alahi wa 'alahim. Alla humma inni as aluka khayra ma sa alaka bihi ibadukas salihun, wa auzubika mim masta aza minhu ibadukal mukhlasun.
1530. * During the period of 0ccultation of Imam (A.S.), it is an obligatory precaution that two sermons (khutbas) be delivered after Eid prayers, and it is better that on Eid ul-fitr, the sermons should explain rules regarding Zakatul Fitr, and on Eid ul-Azha, rules regarding sacrificing the animals be explained.
1531. No particular Surah has been specified for Eid prayers. But, it is better that after reciting Surah al Hamd in the first Rak'at, Surah Wash Shams be recited and in the second Rak'at Surah al Ghashiya. Or in the first Rak'at, to recite Surah of Sabbi Hism, and in the second Rak'at Surah Wash Shams.
1532. It is recommended that Eid prayers be performed in the open fields. However, in Makkah, it is Mustahab that it should be offered in Masjidul Haram.
1533. It is Mustahab to walk barefooted to attend Eid prayers, with all the dignity, and to do Ghusl before namaz, and to place a white turban on one's head.
1534. It is Mustahab that in Eid prayers Sajdah be performed on earth, and hands be raised while saying takbirs. It is also Mustahab that a person who is offering Eid prayers alone, or as an Imam of the congregation, recites prayers loudly.
1535. It is Mustahab that the following takbirs be said on Eid ul Fitr night (ie night preceding the Eid day), after Maghrib and Isha prayers, and on Eid day after Fajr prayers, as well as after Eid ul fitr prayers: "Allahu Akbar, Alllahu Akbar, la ilaha illal lah wallahu akbar, Allahu Akbar, wa lilla hil hamd, Allahu akbar ala ma hadana""
1536. In Eid ul Azha, it is Mustahab that the above mentioned takbirs be said after ten prayers, of which the first is the Zuhr prayers of Eid day and the last is the Fajr of 12th Zillhajj. It is also Mustahab that after the above mentioned takbirs, the following be recited: "Allahu Akbar 'ala ma razaqana min bahimatil an 'am, wal hamdu lil lahi ala ma ablana".
If, a person happens to be in Mina on the day of Eid ul Azha, it is Mustahab that he should say these takbirs after fifteen prayers, of which the first is Zuhr prayers of Eid day, and the last is the Fajr prayers of the 13th of Zillhajj.
1537. The recommended precaution is that women should avoid going to offer Eid prayers. This precaution does not apply to elderly women.
1538. Like in all other prayers, the follower should recite everything in the Eid prayers, except Surah al-Hamd and the other Surah.
1539. If a follower joins the prayers at a time when the Imam has already said some takbirs, he should, while the Imam performs Ruku, say all the takbirs and qunut which he has missed, and it will be sufficient if in each qunut he says: Subhanallah or Alhamdu lillah only.
1540. If a person joins the Eid prayers when the Imam is in Ruku, he can make niyyat, say the first takbir of the prayers, and then go into Ruku.
1541. If a person forgets one Sajdah in Eid prayers, he should perform it after the prayers. Similarly, if something takes place for which a Sajadatus Sahv would be necessary after daily prayers, it will also be necessary after the Eid prayers.