Form 1099-MISC, Miscellaneous Income

If your 501(c)(3) does have a reporting requirement for an IC, it must report payments made to the IC as “nonemployee compensation” on Form 1099-MISC, which it must furnish to both the IC and the IRS.

501(c)(3)s must furnish Form 1099-MISC to ICs by January 31 and file a copy with the IRS by February 28 for all payments made in the past calendar year. Transmit the 1099-MISC to the IRS with Form 1096, Annual Summary and Transmittal of U.S. Information Returns.

Failure to comply with the requirements for Form 1099-MISC will result in penalties.

For more information on the 1099-MISC, see Instructions for Form 1099-MISC and Publication 1220, Specifications for Filing Form 1098, 1099, 5498, and W-2G Electronically or Magnetically.