2021 updates applied to 1099-MISC and 1099-NEC forms
As part of Infor's annual review of IRS bulletins related to updates to the 1099 magnetic media
file output for 1099-MISC and 1099-NEC forms, these changes were made to the 1099-MISC and
1099-NEC magnetic media output generated by the Vendor Administrator Federal 1099
Print:
- Issuer "A" Record
Amount Codes: Increased field position 28-45, length to 18
Blank field: Updated field position to 46-51 (previously 44-51), length changed to 6
- Payee "B" Record
Payment Amount H: New Payment Amount field.
Payment Amount J: New Payment Amount field.
Note: These fields are only loaded on the 1099-DIV form, which is not supported. It is not expected that these fields will be updated by the application. They were added to the Payee B Record to ensure all existing fields positions in the magnetic media output were updated correctly. - Payee "B" Record
Direct Sale Indicator: This single-digit code is added to the 1099-MISC output.
FATCA Filing Requirement Indicator: This single-digit code is removed from the 1099-MISC and 1099-NEC output.
- Issuer "C" Record
Control Total H: New Control Total field.
Control Total J: New Control Total field.
Note: These fields are only loaded for the 1099-DIV form, which is not supported. It is not expected that these fields will be updated by the application. They were added to the Issuer C Record to ensure all existing fields positions in the magnetic media output were updated correctly.