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#208334 - 07/07/04 03:18 PM TIL Reimbursement,
15jwolander Offline
100 Club
Joined: Jan 2004
Posts: 208
PA
We have a situation where we need to reimburse due to inaccurate TIL. We are going to reimburse on 0% tolerance. This question came up! Do we have to provide a 1099 to those borrowers that we reimbuse funds to? Need some help or direction as where to determine the next step.

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Lending Compliance
#208335 - 07/08/04 11:32 AM Re: TIL Reimbursement,
JMB Offline
Member
JMB
Joined: Mar 2002
Posts: 59
Michigan
I think that the answer is yes, but to be sure, you will want to check with the IRS circular on 1099s - it should tell you what needs to be reported.

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