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1099 Reporting

Find out when NC State is required to provide information returns to vendors or individuals that have received payments from the university.

North Carolina State University is required by the IRS to provide information returns to vendors, individuals, etc. that have received payments from the University for the following:

  • Rents,
  • Royalties,
  • Prizes,
  • Awards,
  • Physician or medical services,
  • Healthcare,
  • Attorney fees, and
  • Non-employee compensation.

Information reported on 1099s is based on payments made by the University during a calendar year. Based on the account the payment was posted to, Peoplesoft will generate 1099s for mailing. A review is done of the information and adjustments are made as necessary.

1099s are due to recipients by January 31st. This information is also provided to the IRS. For calendar year 2016, the IRS has amended it’s due by date from March 31st to January 31st. There is no longer time between the two filing dates to provide resolutions without issuing corrected 1099-MISC.

1099s are filed based on the following thresholds:

Rent – If amount paid to a vendor is $600 or more for a calendar year. Payments to corporations are not reported.

Royalties – If amount paid to a vendor is $10 or more for a calendar year. Payments to corporations are not reported.

Other Income – If amount paid to a vendor is $600 or more for a calendar year. Payments to corporations are not reported. Other income includes prizes, awards, punitive damages, awards to students, etc.

Medical and Healthcare Payments – If amount paid to a vendor is $600 or more for a calendar year. Payments to corporations are reported.

Non-Employee Compensation – If amount paid to a vendor is $600 or more for a calendar year. Payments to corporations are not reported. Non-employee compensation includes fees, commissions, and any form of compensation for services performed. The reportable amount for Honoraria payments made to non-employees should include the amount of the honorarium paid and any expenses incurred by the non-employee (including travel).  This is in compliance with State Budget Manual Section 6.7.2 Non-State Employees:

Honoraria are the responsibility of each department, institution, or agency contracting for the personal services of a non-state employee. Each department shall develop a form letter for such invitations and it shall include the amount of the honorarium offered. This amount shall cover any expenses incurred by the non-state employee in lieu of a per diem.

Gross Proceeds Paid to an Attorney – If amount paid to a vendor is $600 or more for a calendar year. Payments to corporations are reported.

1099 Short Reference Guide

NCSU 1099 Account Codes

Stipends