If the original 1099 was submitted via ftwilliam.com's fulfillment service, it will need to be corrected by doing the following:
- Go to the payee's original 1099 record (select the plan > 1099 > select year > select payee).
- Once on the draft Form 1099/5498 for the payee, click on "Create Correction for Payee" located on the left-hand side of the screen.
- A prompt to select a correction type (Error Type 1= First Correction; Error Type 2= Second Correction) will display. After selecting the correction type, click on "Create corrective record."
- The site will update to the corrected draft Form 1099/5498 (First or Second Correction will display at the top of the screen) to allow the payee to be updated/changed.
- After running the edit checks, click on "ftwPro1099Wiz" within the "Batch Features" box of the "Form 1099-R-Year" screen to create a batch.
- Click on "Create New Batch." Create a name for the batch and be sure to check the box to indicate that it is a "Corrective Batch" after entering the batch name, but before clicking on "Create New Batch" again.
- Click on "Select Payees" next to the Payer's name to indicate which payee should be added to the batch. Note: only corrective records are able to be added to a corrective batch. If the payee is grayed-out, this means that the "Corrective Batch" box was not checked when creating the batch.
After adding the payee(s), proceed as if the batch was original (locking, running edit checks, locking the batch, selecting the fulfillment service option, submitting for fulfillment). Note: ftwilliam.com does not offer a correction service for state fulfillment.
Please click here to review the 1099 User Guide for further assistance.
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Articles in this section
- A Return was Filed when one should not have been (e.g. Another Preparer Submitted the 1099 to the IRS)
- Completing a Correction for a 1099 that was Submitted Using ftwilliam.com's Fulfillment Service
- Correcting an Incorrect Payee Address
- Correcting an Incorrect Payer Name and/or TIN
- Correction Types
- Important Notes to Remember when Completing Corrections