If you are required to furnish a written 1099 statement (Copy B or an acceptable substitute) to a recipient, then you may furnish the statement electronically instead of on paper. However, the recipient must consent in the affirmative to receiving the statement electronically and not have withdrawn the consent before the statement is furnished.
Applies to 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-INT, 1099-K, 1099-LS, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-Q, 1099-QA, 1099-R, 1099-S, 1099-SA, 1099-SB
The consent statement must include the following:
- The scope and duration of the consent.
- How to obtain a paper copy after giving consent.
- How to withdraw the consent.
- Notice of termination
- Procedures to update the recipient’s information.
- A description of the hardware and software required