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.