Generate 1099 Statements

Overview of IL276

The Generate 1099 Statements report produces notices to investors related to the interest paid in a calendar year. This report is traditionally run as a part of your organization's year end periodic processing, and is also used to load the 1099 information into the IRS Reporting System. 1099 statements must be sent to investors no later than January 31st. The date that they are due to the IRS can fluctuate, so it is advised that you check the IRS Publication 1220 for the current year's due date. To generate the statements:

• From the DDI Connect main menu, double-click Financial Services
• Double-click Investments
• Double-click Reports
• Double-click 276 Generate 1099 Statements. The parameters screen will launch:

You have the following fields available:

Field	Description
Statement date	This date is traditionally a year end date. You can type the date in a mm/dd/yyyy format or click the calendar icon to select the date
Fiscal year	This is a display only field that will reflect which fiscal year the statement date falls in
Group method	You can choose to group the statements by account or by Tax ID. Click the drop down arrow to select your grouping method
Account	If you wish to generate statements only for a particular account, you can type the account number here or click the search icon to select the account. Leave this field blank to generate statements for all qualifying accounts
Constituent	If you wish to generate statements only for a particular constituent, you can type the constituent PIN here or click the search icon to select the constituent. Leave this field blank to generate statements for all qualifying constituents
Load IRS payee information	If selected, the report results will be loaded into the IRS Reporting System
Create notices	If selected, the system will generate 1099 notices for investors
Merge method	NOTE: This field is only enabled if "Create Notices" is selected Click the list icon to select the method desired to create the notices. Your options are: Option Description Online This option creates electronic copies only Paper This option creates paper copies User This option creates merge documents based on user preferences
Exclude IRA accounts from notices	NOTE: This field is only enabled if "Create Notices" is selected If this box is checked, IRA accounts will not receive 1099 notices
Sort by	You can opt to have the report sort by Constituent Type, Tax ID, or no particular sort order. Click the drop down arrow to select your sort preference
Remove existing payee information	NOTE: This field is only enabled if "Load IRS payee information" is selected If selected, the system will remove any existing payee information from the IRS Reporting system prior to loading the data from this report
Payee operation	NOTE: This field is only enabled if "Load IRS payee information" is selected You can opt to copy amounts to existing payee (which will overwrite existing data in the IRS Reporting system) or you can add amounts to existing payee (which will add the data from this report generation to existing data in the IRS Reporting system)

Print Options

After clicking the Print Options button you will see the following options. Choose the desired options and click OK to return to the report parameters screen.

Option	Description
Printer	Click the drop down arrow to select from a list of available printers. DDI Connect uses your default printer unless told otherwise
Format	Click the drop down arrow to select from a list of available formats. Select paper size, number of columns, and number of rows for printing. Each report has built-in format defaults. Select “Use Defaults” to use the built-in report defaults. The number of rows and columns controls the print size and amount of information per page
Memo	If you wish, you can add a memo to the output of the report. NOTE: It is recommended that Word documents be saved with the .docx extension
View Report	This option generates a pdf file that is displayed on the screen when the report is generated
Archive Report	If this option is selected, the system will archive the report in the DDI Connect report archives. For information on working with archived reports, please reference this page: Archived Report Viewer
Print Report	If selected, the system will generate the report output to your default printer. NOTE: You will also receive a pdf version of the report, displayed on your screen
Print via PDF	Prints directly to your printer.
Email	This option allows you to send a .pdf attachment of the report to the indicated users' email addresses. When OK is clicked, a dialog box will open requesting a recipient
Duplex/Top	Prints the report on both sides of the paper in landscape style. The printer must be capable of printing on both sides or an error will occur
Duplex/Side	Prints the report on both sides of the paper in portrait style. The printer must be capable of printing on both sides or an error will occur
Green bar	Adds shaded, horizontal bars to the report, making it easier to read across columns
No dialog	Selecting this option means that no ‘Report Completed’ dialog will display after the report has been generated
Extra copies	If you want extra copies of the report generated, type the number in this field

Click start. The system will now generate the report and provide a summary of the results. Click below to view a sample of this summary report.