PEAS - 99FATCA

Reporting Foreign Accounts on 1099-Misc per FATCA (Foreign Account Compliance Act)
Define this common code to add a PE Association option titled “99FATCA”.  Once defined, PEUPPE records who have this Association “Code” will be flagged as a FATCA account on a 1099-Misc form; the FATCA box would then hold a checkmark, providing the vendor met the dollar threshold to receive a 1099 document.  To flag a PEID as FATCA, define this common code then add the code “99FATCA” to a specific PEID(s) within PEUPPE, Association tab.  Print 1099s in normal fashion. 

Code Category: PEAS

Code Value: 99FATCA

Short Description: Not required.

Medium Description: Not required. Used to describe the common code.

Long Description: Not required. Used to describe the common code.

Associated Numeric Values, Associated Codes, Associated Descriptions

1-5: Reserved for future use.