| 1099 forms are tax documents used to report | | | | encourages the use of software data |
| certain types of payments made by financial | | | | compression for files larger than 10,000 records . |
| institutions and others who make payments as | | | | Data compression software such as WINZIP and |
| part of their trade or business as required by the | | | | PKZIP are acceptable compression packages. The |
| IRS Regulations. 1099 forms are filed electronically | | | | time to transmit your file can be greatly reduced |
| via the Filing Information Returns Electronically | | | | by using software data compression. |
| system (FIRE). | | | | After one to two business days, the results of |
| Filing 1099 information returns electronically is fast, | | | | the electronic transmission(s) will be sent to the |
| efficient, secure and most importantly flexible, | | | | email address that is provided on the "Verify Your |
| where the due dates to file are extended. | | | | Filing Information" screen at the time when the |
| Any filer of information returns who files 250 or | | | | return was submitted.. If the email indicates that |
| more 1099 Forms must file their information | | | | your file is bad, log into the FIRE system and go |
| returns electronically. However, if you have less | | | | to CHECK FILE STATUS at the Main Menu to |
| than 250 forms, the IRS encourages you to file | | | | determine the errors in your file, correct the file |
| these returns electronically. | | | | and resubmit the file as a replacement. If you |
| Participants are required to submit Form 4419, | | | | disagree with the count of payees, please call or |
| Application for Filing Information Returns | | | | email us to resolve the discrepancy. |
| Electronically/Magnetically to request authorization | | | | Steps for sending 1099 Forms electronically to the |
| to file Information Returns with the IRS. Once | | | | IRS: |
| approved, a five-character code called the TCC | | | | |
| code will be assigned to you. If you already have | | | | 1. Use a 1099 software to generate the 1099 |
| a TCC for magnetic media filing, you don't need | | | | electronic submission file. |
| to reapply. In order to ensure timely filing, submit | | | | 2. Log into the IRS fire system at |
| Form 4419 at least 30 days before the due date | | | | 3. Click the "Send Information Returns" menu. |
| of the 1099 return. If you prefer, the Form 4419 | | | | 4. Enter your TCC code. |
| can be faxed toll-free to 877-477-0572. | | | | 5. Enter your EIN. |
| The 1099 electronically transmitted file(s) must | | | | 6. Click "Submit". |
| follow the record format specified by IRS | | | | 7. Click "Original File:. |
| Publication 1220 (Specifications for Filing Forms | | | | 8. Enter your 10-digit PIN. |
| 1098, 1099, 5498 and W-2G Electronically or | | | | 9. Click "Submit". |
| Magnetically). Using a good 1099 software will | | | | 10. Click "Browse" to locate the file you generated |
| guarantee that the 1099 electronic file follows the | | | | in step one above and open it. |
| government regulations and doesn't get refused | | | | 11. Click "Upload" and wait until the upload is |
| when sent to the IRS. The IRS accepts and | | | | complete. |