Which Fiserv supported format should you use?
EOY5025
- Produces the FIRE formatted document that is to be transmitted to the IRS. This does not contain the deposit detail, or the additional detail for 1098’s.
EOY5026
- Produces the FIRE formatted document that includes the additional information needed to create more complete forms
- If you would like all deposit accounts listed on your 1099-INT, use this program
- If you would like additional information on your 1098 such as Tax Paid, use this program
- Additionally, you can set a form as you run this program so you can generate the file one form at a time, should you choose to take that approach.
EOY5036
- Produce a FIRE file format for 5498 that includes the appropriate number of 5498 forms.
- Additionally, you can set a form as you run this program so you can generate the file one form at a time, should you choose to take that approach.
How is PrintMail affected by this change?
There is little to no impact at PrintMail Solutions.
- We have not used the Fiserv Tax Forms for years
- We modify our forms from the IRS changes annually
- We updated our programs last year which made us and our programming more efficient. We already have all programming in place for these formats.
- We will only need to change settings on your jobs indicating you will be moving to FIRE format.
- We will need to make the annual changes for 2023 tax when they are announced.
In what other ways might your Financial Institution be impacted?
- If you were printing any forms in-house, PrintMail is prepared to print any form for you, regardless of volume.
- Please let us know when we send the Tax Update Form, which forms you would like us to be prepared to print on your behalf.
- If you need forms available for corrections, PrintMail provides fillable PDFs on our portal that you can download, fill out, print, and mail to your corrections customers.
- PrintMail also supports corrections files being transmitted throughout the year so that you don’t have to manually intervene on corrections at all.
- If you are getting archive PDFs back for import into Director, we will no longer have all the fields in the footer to include in the index back.
- We will still include the fields, just leave them blank.
- We will index the first account on the tax document.
- If you had logic to suppress or return statements with a particular mail code, Mail Code is no longer available as it’s not included in the FIRE File.
- PrintMail can still use Address Block for Suppression
- Additional lists can be provided for Suppression/Return instructions. If you would like to investigate this further, please contact your Client Manager.
- Training on transmitting this data will come later in the year, closer to the tax transmission timeframe.
What else can we do for you?
- Interested in Archive PDFs being returned for import on your side?
- Want to test these files from your 2022 data?
Contact your Client Manager today.