Servicing Guide

Published November 10, 2020

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What are the servicer requirements when reporting to the IRS via magnetic media?

The servicer that is able to report IRS Forms 1099-A information on magnetic media must do so on Fannie Mae’s behalf. However, a servicer must file the 1099-C electronically on Fannie Mae’s behalf.

To ensure that Fannie Mae can identify the servicer and specific mortgage loan numbers if the IRS contacts Fannie Mae for additional information or clarification, Fannie Mae requires the servicer to perform the actions listed in the following table in accordance with Reporting via Magnetic Media in C-4.2-01, Filing IRS Forms 1099-A, 1099-C and 1099–MISC.  

The servicer must...
 

Insert the following header information when the IRS Form 1099–A is filed on Fannie Mae’s behalf:

  • Fannie Mae on the first “Payer” line and the 10–digit Fannie Mae loan number (or MBS pool number), followed by one space, and

  • the 9–digit identification number Fannie Mae assigned to the servicer, on the line for the “Payer’s account number for Payee.”

 

Submit a Summary of IRS For 1099–A and 1099–C Filing (Form 1100) to notify Fannie Mae that it reported to the IRS on magnetic media.

For more information please see Servicing Guide F-1-24: Reporting to Third Parties and C-4.2-01, Filing IRS Forms 1099-A, 1099-C and 1099–MISC.

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Guide Resources

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