Skip to content
BOL Conferences Top Gun 23
Thread Options Tools
#51618 - 01/02/03 04:48 PM 1098's & annual privacy disclosure
Anonymous
Unregistered

We are preparing to send out our annual privacy disclosures. We were going to send to most loan consumers along with their 2002 1098's - until someone said they thought the 1098's could not have additional materials mixed in with the mailing - true or false ?

Return to Top
General Discussion
#51619 - 01/02/03 05:09 PM Re: 1098's & annual privacy disclosure
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,390
Galveston, TX
Go here, page 11, right hand column. I would say no.

General Instructions
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#51620 - 01/02/03 05:10 PM Re: 1098's & annual privacy disclosure
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
True. Randy is correct. Nothing can go with the IRS mailings.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#51621 - 01/02/03 05:14 PM Re: 1098's & annual privacy disclosure
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,390
Galveston, TX
David - Thanks for clarifying - sometimes I get my trues and falses and yeses and nos all mixed up.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#51622 - 01/02/03 05:20 PM Re: 1098's & annual privacy disclosure
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Oui!
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#51623 - 01/02/03 06:21 PM Re: 1098's & annual privacy disclosure
complyguy Offline
Gold Star
complyguy
Joined: May 2001
Posts: 494
PA
If I've got the right page, that part of the instructions is for 1099s, not 1098s. Does the prohibition also apply to 1099s?

Return to Top
#51624 - 01/02/03 06:32 PM Re: 1098's & annual privacy disclosure
John Burnett Online
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,876
Cape Cod
If you move to the next page (page 12 of the PDF document), left column, you'll see directions for the 1098 and similar forms.

It appears that you MAY include other material with the 1098 mailings, including promotional materials, etc. The prohibition only applies to 1099 and similar mailings.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top
#51625 - 01/02/03 07:13 PM Re: 1098's & annual privacy disclosure
complyguy Offline
Gold Star
complyguy
Joined: May 2001
Posts: 494
PA
My apologies, John. I was fishing around for something like that, and looked right past it. Too much policy/procedure writing, HMDA scrubbing, etc. for one day, I guess... Thanks for pointing it out.

Return to Top
#51626 - 01/02/03 07:14 PM Re: 1098's & annual privacy disclosure
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,390
Galveston, TX
Thanks John, I stand corrected. I didn't really read this in detail, I just new it was addressed and didn't realize there was a difference between 1099s and 1098s.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#51627 - 01/02/03 08:57 PM Re: 1098's & annual privacy disclosure
Angel Eyes Offline
Power Poster
Angel Eyes
Joined: May 2001
Posts: 4,599
see this earlier discussion

Annual Privacy Mailing and 1098s

Return to Top
#51628 - 01/02/03 09:05 PM Re: 1098's & annual privacy disclosure
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,390
Galveston, TX
As John pointed out however, only "c0mplywithme" had the correct answer in the post you referred too.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top