1098-T Magnetic Media Control Window

Use this window to enter and verify the 1098-T tax year. You can also update general organizational information included with 1098-T magnetic media submission sent to the Social Security Administration.

Columns

Payment Year

From the drop-down, select the four-digit year for which you are reporting.

This value must be changed each year.

The available years are defined in the TaxYearDef table.

The year selected here will be the tax year on the Generate 1098-T's window.
Payer's TIN

This number is the same number as your organizations Employer Identification Number (EIN).

Enter your organization's Taxpayer Identification Number (TIN). Do not enter any hyphens, spaces, or other alpha characters.
Payer Name Control

Enter the four-character name control for your organization that appears on the mail label of the Package 1098 that you received from the Internal Revenue Service (IRS).

If you use less than four characters, the name should be left-justified, filling the unused portion with blanks. If you do not know the name control or if you did not receive a Package 1098, leave the column blank.
Transmitter Control Code

Enter the five-character Transmitter Control Code (TCC) assigned to your organization by the Internal Revenue Service (IRS).
First Payer Name Line

Enter your organizations name.
Transfer Agent Indicator

Refer to IRS publications for further description of a transfer agent.

This column indicates whether or not the name in the Second Payer Name Line is the agency to which your organization authorized to pay withholdings and report backup withholding.

§ 1: The name in the Second Payer Name Line is the transfer agent. If you enter 1, you must enter the name of the transfer agent in the Second Payer Name Line.

This value is not used unless your organization has authorized an entity to pay withholdings and report backup withholding.

§ 0 (zero): The name is not the transfer agent. If you enter 0, the name in the Second Payer Name Line can be a continuation of the First Payer Name Line or blanks.
Payer Shipping Address

If the Transfer Agent Indicator column contains a 0, enter your organization's shipping address.

Payer City, State, Zip

If the Transfer Agent Indicator column contains a 0, enter your organization's city, two-letter state code, and ZIP Code.
Payer Telephone Number

Enter your organization's telephone number.
Payer Email

Enter your organization's email address for 1098-T reporting.
Transmitter Name

This is generally your organization's name.

Enter the name of the organization submitting files on magnetic media.
Transmitter Mailing Address

This is generally your organization's address.

Enter the mailing address of the organization submitting files on magnetic media.
Transmitter City, State, Zip

This is generally your organization's information.

Enter the city, two-letter state code, and ZIP Code for organizations submitting files on magnetic media.
Use Rules Based Update for 1098-T PT/FT Definition

Select this checkbox to use rules based updates for calculating if a student is at least half time.

How To

1. Access the 1098T Magnetic Media Control window.

2. From the Payment Year drop-down, select the four-digit year for which you are reporting.

3. In the Payers TIN column, enter the payer's Taxpayer Identification Number (TIN). This is the same number as your organization's Employer Identification Number (EIN).

4. In the Payer Name Control column, enter the payer's four-character name control displayed on the Package 1098 mailing label from the IRS.

5. In the Transmitter Control Code (TCC) column, enter the payer's TCC assigned by IRS.

6. In the First Payer Name Line column, enter the payer's name.

7. In the Transfer Agent Indicator column, enter a 0 to indicate that your school is submitting the forms or a 1 if your school is using a filing agent (also known as a disbursing or paying agent) to submit the forms.

8. In the Payer Shipping Address, Payer City, Payer State, Payer Zip Code, Payer Email Address, and Payer Telephone Number columns, enter the payer's mailing and contact information.

9. In the Transmitter Name and Transmitter Mailing Address columns, enter the name and mailing address for the organization submitting the files on magnetic media.