Countries and Languages
| Countries | Languages |
|---|---|
| USA | English |
Extracted Fields
Basic Form Information
| Field | Description |
|---|---|
| Void | Indicates whether the form should be annulled. |
| Corrected | Indicates whether the form is being submitted to correct data provided earlier. |
| Year | The reporting calendar year. |
Filer Details
| Field | Description |
|---|---|
| Name | The name, address, and phone number of the filer. |
| Street | The name, address, and phone number of the filer. |
| City | The name, address, and phone number of the filer. |
| State | The name, address, and phone number of the filer. |
| ZIP Code | The name, address, and phone number of the filer. |
| Country | The name, address, and phone number of the filer. |
| Phone | The name, address, and phone number of the filer. |
Tax Identification Numbers
| Field | Description |
|---|---|
| Filer’s TIN | The tax identification number assigned to the filer. |
| Payee’s TIN | The tax identification number assigned to the payee. |
Payee Details
| Field | Description |
|---|---|
| Name | The name and address of the payment recipient. |
| Street | The name and address of the payment recipient. |
| City | The name and address of the payment recipient. |
| State | The name and address of the payment recipient. |
| ZIP Code | The name and address of the payment recipient. |
| Country | The name and address of the payment recipient. |
Filer Classification
| Field | Description |
|---|---|
| Payment Settlement Entity (PSE) | Indicates whether the filer is a payment settlement entity (PSE). |
| Electronic Payment Facilitator (EPF) or Other Third Party | Indicates whether the filer is an electronic payment facilitator (EPF) or other third party. |
Transaction Type
| Field | Description |
|---|---|
| Payment Card | Indicates whether the transactions being reported for the payee were made through payment card transactions. |
| Third Party Network | Indicates whether the transactions being reported for the payee were made through a third-party network. |
PSE Details
| Field | Description |
|---|---|
| Name | The name of the payment settlement entity (PSE). |
| Phone | The phone of the payment settlement entity (PSE). |
Account and Transaction Information
| Field | Description |
|---|---|
| Account Number | The unique number used by the taxpayer to identify the payment recipient. |
| Gross Amount of Payment Card or Third Party Network Transactions | The total amount of all reportable payment card and third party network transactions for the calendar year. |
| Card Not Present Transactions | The gross amount of all reportable payment card and third-party network transactions for the calendar year where either the card was not present at the time of the transaction or the card number was keyed into the terminal. |
| Merchant Category Code | The four-digit merchant category code (MCC) used by the payment card industry to classify the payee for the payment card transactions reported on this form. |
| Number of Payment Transactions | The number of payment transactions (not including refund transactions) processed through the payment card or third-party payer network. |
| Federal Income Tax Withheld | The total amount withheld as federal income tax. |
Monthly Transaction Breakdown
| Month | Description |
|---|---|
| January | The gross amount of all reportable payment transactions for each month of the calendar year. |
| February | The gross amount of all reportable payment transactions for each month of the calendar year. |
| March | The gross amount of all reportable payment transactions for each month of the calendar year. |
| April | The gross amount of all reportable payment transactions for each month of the calendar year. |
| May | The gross amount of all reportable payment transactions for each month of the calendar year. |
| June | The gross amount of all reportable payment transactions for each month of the calendar year. |
| July | The gross amount of all reportable payment transactions for each month of the calendar year. |
| August | The gross amount of all reportable payment transactions for each month of the calendar year. |
| September | The gross amount of all reportable payment transactions for each month of the calendar year. |
| October | The gross amount of all reportable payment transactions for each month of the calendar year. |
| November | The gross amount of all reportable payment transactions for each month of the calendar year. |
| December | The gross amount of all reportable payment transactions for each month of the calendar year. |
State Tax Information
| Field | Description |
|---|---|
| State 1 | State-specific payment information. |
| State 2 | State-specific payment information. |
| State Identification Number 1 | State-specific payment information. |
| State Identification Number 2 | State-specific payment information. |
| State Tax Withheld 1 | State-specific payment information. |
| State Tax Withheld 2 | State-specific payment information. |
Key Fields
- Year
- Filer Details/Name
- Filer’s TIN
- Payee’s TIN
- Payee Details/Name
- Account Number
- Gross Amount of Payment Card or Third Party Network Transactions
Validation Rules
| Rule | Description |
|---|---|
| Complete Form Year | Checks the value in the Year field. It removes any white spaces and converts a 2-digit year into a 4-digit format. If the last two digits are numeric and start with 9, it converts the value to the 1900’s (for example, 99 converts to 1999). Otherwise, it assumes the date is from the 2000’s (for example, 24 converts to 2024). |