NMU's Compliance Database - Northern Michigan University
Tuition Payment Credit Reporting Requirements (Form 1098-T to IRS)
| Reviewed By | Internal Auditor Owner |
| Regulation Reference Cite | IRS Code and NACUBO best practice |
| Report Due Date (Actual) | March 31 |
| Level | Compliance Report |
| Oversight Unit | FINANCIAL SERVICES |
| Person Responsible | Ross Broughton |
| Secondary Person Responsible | Pamela Johnson |
| President / VP Level | Finance |
| Description |
To avoid being subject to fines for failure to report correct TINs on Form 1098-T, institutions must solicit any missing TINs: • at least once a year • in writing • with a clear notice that the individual is required by law to provide the TIN so that it may be included on an information return. |
| Contacts and Data Sources |
| Ross Broughton Pam Johnson |
| Internal Notes |
| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |