Steps to Complete by 1/31/26

 

Step 1

Print year-end notices, lists, summaries and IRA statements as they pertain to the bank.

Refer to Compass XD - Tax Reporting documentation for steps on printing year-end notices.

 

Step 2

Generate the 1099 NEC entries for non-employee compensation (NEC) IRS files.

Select Tax Information

Tax Reporting module will display

Select the Processing tab

Select Tax File

Under Create: 

Select IRS File 1099 NEC

NOTE: For data center customers if the Tax Exhibit is reflecting the reporting and output of this form, the file will be generated and sent prior to January 31.