EAP WTHD21: APX1099NEC.rtf Delivered Template Has Non-Compliant Wording at Box 3 Under Instructions for Recipient Section
(Doc ID 2828628.1)
Last updated on OCTOBER 17, 2022
Applies to:PeopleSoft Enterprise FIN Payables - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
It has been detected that the verbiage for Box 3 under the 'Instructions for Recipient' section on the delivered APX1099NEC.rtf Template is not compliant with the wording instructed by the IRS for the 1099-NEC CopyB Form for 2021.
- PeopleSoft Enterprise FSCM 9.2 Version of the 1099-NEC Copy B Report has a verbiage of: Box 3. Reserved.
- The IRS Site for the 2021 1099-NEC CopyB Form has the verbiage of: Box 3. Reserved for future use.
1.- Log into the FSCM Online Application as a System Administrator User
2.- Navigate to: Reporting Tools > BI Publisher > Create BIP Report Definitions
3.- Search for Report Name APX1099N, and open it
4.- Go to the Template tab
5.- Click on the link of Template File APX1099NEC.rtf
6.- Review on the word document opened the verbiage contained in the 'Instructions for Recipient' section, under Box 3.
7.- Confirm that the wording states: Box 3. Reserved.
To gather more information concerning this scenario and its related problem, refer to the available Replication Steps PDF Document here linked containing the complete configuration and the replication steps necessary to reproduce the issue.
While it is a small difference from the official report by the IRS, any divergence to that format could cause the 1099-NEC CopyB Withholding Report generated by PeopleSoft to be rejected by the IRS after submission.
The 1099-NEC CopyB Form report needs to match 100% the guidelines and instructions provided by the US Government IRS department.
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