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Stripe Platforms FAQ

Last Updated:
December 12, 2018

This 1099 tax season, we've prepared the following FAQ to assist your platform as it prepares to file:

Do I have all required information on my connected accounts to file a 1099?

The information required to complete a 1099 is as follows:

1. Legal name

2. Business name if different from the previous name

3. Address

4. Social Security Number (SSN) or Employer Identification Number (EIN)

5. Federal tax classification

6. Email address to invite users to Payable and e-deliver their Form 1099

7. Gross amount of payment third party network transactions for 1099-K or nonemployee compensation for 1099-MISC

Stripe has most of this information on file from onboarding merchants, but please make sure this information has been passed to Stripe. If you have a significant number of connected accounts without this data or have not passed it to Stripe (especially email addresses), we highly recommend reaching out to your Custom and Express accounts to collect this information. Once obtained, pass this data to us via the API before syncing with Payable. If this applies only to a few accounts, this will be called out through Payable's interface and the information can be requested from the user at that point.

You can find details for updating account information via the API here:

- For Custom and Express accounts: https://stripe.com/docs/api#update_account

- For Recipients accounts: https://stripe.com/docs/api#update_recipient

Do I need to send a 1099-K or a 1099-MISC?

Stripe has worked with Payable to offer a guide as you consider the type of filing you wish to make: 

Do I Send a 1099-MISC or a 1099-K?

You should consult a legal or tax professional to determine what type of filing is right for your business.

What are the major dates I should keep in mind?

01/01/2019: The first day you can import all 2018 data to Payable

01/08/2019: The first day you can initiate delivery and filing of 1099 forms

01/24/2019: Last day to deliver 1099s via postal mail when using Payable mailing services to ensure delivery by 01/31/2019

01/31/2019: Last day to deliver 1099s

Payable Help Center Resources:

https://payable.com/support-approvers-stripe-marketplaces

https://payable.com/support-approvers-payable-how-tos

https://payable.com/support-approvers-company-1099-guides

https://payable.com/support-approvers-1099-overview

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