Form 1099 - Due date

31st January

Communication to BKD
Data preparation Process Vendor confirmation for data
(Consultants)

Process 1 Step 1 Step 1

listing out Contractors/Individual/ Send out mail for confirmation of  Communicate with 
LLP/LLCs Payments made >600$  Name, FED ID, Address & amount  BKD for filing 
in FY by fixing dead line for confirmation of FORM with IRS 

Process 2 YES Step 2

Confirmation
received
Check for W9 for all  Mail them the Final Data 
the vendors listed. Approved by CFO for filing 
If W9 not found  for preparation of Form 1099 
request for It. No

Step 2
Process 3 Step 3
Send reminders for records
Cross verify payments with Bank  send reviewed draft 1099 &
statements, Record reasons  authorization Form  
 for any deviations found

Process 4 Step 4

Reconcile for Amount,  Save the acknowledgment 

No of vendor with   and make sure all the 1099 
previous year numbers and amount sent to all the vendors by 
BKD

Process 5

Send for review and approval of 

data from CFO. Source documents : Accounts Payable GL, Bank Statements,        
            Record Documents : Mail confirmations, Mails to BKD, Acknowledgments.