Learn best practices on how to effectively your tax documents out the door and into the hands of your customers and/or vendors!

1. WELCOME!
The webinar will begin at 1:00 pm Central.
Audio for this event will be available via your PC speakers
or headphones. This will be the default option.
If you are unable to listen to your PC audio, please join the
teleconference using the following information:
Call-in toll-free number (US/Canada) - 1-877-668-4493
Call-in toll number (US/Canada) - +1-408-600-3600
Access code: 926 329 199

2. WELCOME!
Christina Vekich
Marketing Communications

3. Comply + Connect (C2) Summit 2014
 October 27-29, 2014 – Nashville, TN
 Sheraton Music City Hotel
 Register Now!
 DOUBLE bird pricing!
 www.convey.com/c2
 conferences@convey.com

4. STATEMENT DELIVERY
BEST PRACTICES
Neal Lefebvre
Director, Product Management

5. Agenda
 Overview
 Issues
 Statement Delivery
 Paper
 Electronic
 Q&A

6. OVERVIEW

7. Form Delivery Process
•Consolidate
and combine
data
•Create forms
Import tax
data
Reduce form
volume
•Apply limits
•Produce
statements
where allowed
•Print and mail
(most common)
•Electronic
(eStatements)
Deliver
Forms
Service
Clients
•Reprints
•Corrections

8. Penalties
 Penalties Are The Same as Filing
Time of Filing
Penalty
Maximum
30 days or less
$30
$250,000
Before August 1st
$60
$500,000
After August 1st
$100
$1,500,000
Intentional Disregard
$250
No Limitation

9. ISSUES

10. We Have To Do It
 Paper Delivery is Very
Costly
 Security Risks
 Brand Risks
 Corrections & Reprints
are Complex and
Expensive
 Paper Delivery is Slow
and Inconvenient

11. Issues
 General
 Print forms are not very secure
 Delivery Issues
 Return Mail
 Desktop Printing
 Manual
 No postal discounts
 Print Vendors
 Annual changes are costly
 Flexibility

12. Polling Q 1
 How many total forms does your
organization file approximately each
year?





0-100
101-30,000
30,001-100,000
100,000 +
I don’t know

13. STATEMENT DELIVERY

14. First Things First
 Create A Project Plan
 Timeline For File Delivery
 Reject Correction
 Include All Regulatory Deadlines

15. Transaction System
 Ensure System Extracts Are Updated
 Account For New Fields
 Validate Format Hasn’t Changed

16. Pilot Testing
 End to End Test of Entire Process
 November Timeframe
 Advantages




Ensure Data Files Are Correct
Find Issues Before January
Validates Your Plan
Early Review of New Changes

17. Form Delivery Process
•Consolidate
and combine
data
•Create forms
Import tax
data
Reduce form
volume
•Apply limits
•Produce
statements
where allowed
•Print and mail
(most common)
•Electronic
(eStatements)
Deliver
Forms
Service
Clients
•Reprints
•Corrections

18. Data Import
 Accumulate Data From Various Source
Systems
 Data Validations
 Reduce Corrections
 Ensure IRS/State Acceptance
 Frequent Imports Allows Corrections
Throughout the Year

19. Form Delivery Process
•Consolidate
and combine
data
•Create forms
Import tax
data
Reduce form
volume
•Apply limits
•Produce
statements
where allowed
•Print and mail
(most common)
•Electronic
(eStatements)
Deliver
Forms
Service
Clients
•Reprints
•Corrections

20. Reduce Print Volume
 Federal/State Limits
 Exempt Records
 No Mail Indicators
 Board of Directors
 House Holding
You Must Attempt To Send All
Forms

21. Form Delivery Process
•Consolidate
and combine
data
•Create forms
Import tax
data
Reduce form
volume
•Apply limits
•Produce
statements
where allowed
•Print and mail
(most common)
•Electronic
(eStatements)
Deliver
Forms
Service
Clients
•Reprints
•Corrections

22. Statement Options
 Provide Better Client Experience
 Reduce Calls & Questions
 A Few Options
 Print Notes
 Transactions
 Composite
 TIN Masking
 Inserts

23. Print Notes

24. Composite Statements

25. Transactions

26. TIN Masking
 Extension of program which allows
truncation of TIN’s for SSNs on most 1099s
 000-00-0000 -> xxx-xx-0000 or ***-**-0000
 Impact:
 Increased security
 Increased “B” Notices?
A Better Option

eStatements

27. TIN Masking

28. Mailing Considerations
 Ensure Delivery
 NCOA
 CASS
 Discounts
 Volume
 Zip Sort
 Barcoding

29. Mailing Considerations
 On-Site Post Office
 Double Stuffing of Forms
 Cameras
 Envelope Weight
 TIN Showing Through Window
 Security of Facility

30. Form Delivery Process
•Consolidate
and combine
data
•Create forms
Import tax
data
Reduce form
volume
•Apply limits
•Produce
statements
where allowed
•Print and mail
(most common)
•Electronic
(eStatements)
Deliver
Forms
Service
Clients
•Reprints
•Corrections

31. Customer Service
 Reprints
 Corrections
 Client Questions

32. Reprint Sample

33. Trivia Time!
USPS Mail Volume
220
200
180
160
Volume (Billions)
140
120
100
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

34. Electronic Forms Delivery
Reduced Costs of Printing & Mailing
Decrease in Call Volume
Increase in Customer Service Levels
Timely Statement Delivery – 24 x 7
Access
 Services Offered:




E-Statements
Opt-In / Opt-Out
IVR

35. Benefits






Added Convenience
Faster Delivery
On Demand, Instant Access
Green – Less Paper Clutter
Safer
Demonstrates Technology Leadership

36. Opt-in/Opt-Out
 Recipients can Opt-Out of receiving
paper copies of their forms
 Track client delivery preference:
 Print and electronic
 Electronic only 1099 tax forms
 Reduce print and mail for those
opting for electronic only

37. How It Works
 Static PDFs
 Data is Linked to Your Secure Website
 Corrections Available in Real-Time
XML Connection
www.YourSite.com

38. ESTATEMENTS EXAMPLE

39.  Placeholder for Anne’s new screen shots.

41. 2012
2011
2010

43. Key Takeaways
1
Multiple Avenues to Reduce Costs
2
Planning is Key
3
Electronic Delivery

44. Polling Q 2
 Would you like more information
about Convey’s statement delivery
services?
 Yes
 No

45. Q&A

46. Stay up to date…
Blog:
1099news.com
Twitter:
@Convey1099
Search for
‘Convey Compliance’
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