Form 1099-K

Information reporting for payment card and third party network transactions on Form 1099-K, Payment Card and Third Party Network Transactions is due to the IRS on the last day of February of the year following the transactions. If filing electronically, Form 1099-K is due the first day of April of the year following the transactions.

Every payment settlement entity required to file a Form 1099-K must also furnish to each participating payee a written statement with the same information reported to the IRS. The statements must be furnished to the payee by January 31 of the year following the transactions. Payee statements may be furnished to participating payees electronically with the payee’s prior consent.

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