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IRS Reporting Requirements: 1098s, 1099s, TINs and Backup Withholding

Recorded on September 06, 2018

It has always been said that no job is finished until the paperwork is done, and that is certainly true for your credit union and its IRS reporting responsibilities. Your customers need to know you are complying with all the applicable rules and timelines in this essential operational area. As the end of this tax year approaches, make sure you understand all the guidelines, deadlines, and forms that affect the IRS reporting requirements.

Whether it is reporting the interest earned on deposit accounts or paid on real estate loans, mandatory minimum distributions on IRAs, contractor payments or declaring a debt canceled, the Internal Revenue Service expects your institution to understand the rules and get them right every time. But what impact do changes in staff, management, business lines or core processing systems have on your ability to comply with these technical requirements? Is there a way you can save time, effort and headaches within your IRS Reporting Compliance Program? Can you leverage your current data processing system to save time and effort? Let process compliance veteran, David Reed, show you the current world of IRS Reporting and share best practices for adding compliance and efficiency to this long hidden task.


  • Guidelines for Determining Reporting Requirements
  • Back-up Withholding Issues
  • Obtaining Taxpayer Identification Numbers (TIN's)
  • IRS Forms, Procedures and Landmines
    • 1098
    • 1099-A & C
    • 1099-INT
    • 1099-MISC
    • 1099-R
    • 1042

  • Reporting Deadlines
  • Best Practices

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