Guidance on Information Reporting
This page contains guidance on information reporting. Click on one of the sections below to find the information you need.
Guidance on Information Reporting
Beginning July 1, 2019 a penalty of fifty dollars ($50) per day with a maximum of one thousand dollars ($1,000) may be assessed for failure to file the Information Reporting Requirement as outlined in NC G.S. 105-236(a) (10) (c).
Beginning July 1, 2019 a penalty of two hundred dollars ($200) will be assessed for “failure to file in the format prescribed by the Secretary” per NC G.S. 105-236(a) (10) (d).
An information report received with an error, such as those referenced in the Troubleshooting Guide, will be considered a submission in a format different than requested and may be assessed the $200 penalty.
Requirement for Payment Settlement Entity to file Form 1099-K electronically on or before March 31
G.S. 105-251.2(c), as enacted in S.L. 2017-204, requires payment settlement entities to submit to the Department duplicate copies of all information filed with the IRS pursuant to section 6050W of the Internal Revenue Code (i.e. Form 1099-K, “Merchant Card and Third Party Network Payments”). The term “payment settlement entity” has the same meaning as in section 6050W of the Internal Revenue Code. Pursuant to G.S. 105-251.2(d), the entity must submit the Form 1099-K information to the Secretary in an electronic format. There is no provision in North Carolina law that permits the Secretary to waive the electronic filing requirement.
1099K File Format Specifications
Departmental Notice: Payment Settlement Entity (1099K)
Ability for Buyers to file Form NC-1099NRS electronically within 15 days of the closing date of the sale
Pursuant to Title 17 North Carolina Administrative Code Chapter 6 Subchapter B Rule .3906, (17 NCAC 06B 3906), every individual, fiduciary, partnership, corporation, or unit of government buying real property located in North Carolina from a nonresident individual, partnership, estate, or trust must complete Form NC-1099NRS, Report of Sale of Real Property by Nonresidents, to report the following: (1) the seller's name, address, and social security number, or federal employer identification number; (2) the location of the property; (3) the date of closing; and (4) the gross sales price of the real property and its associated tangible personal property.
- Manual Entry: Allows you to manually enter each Form NC-1099NRS in the eNC3 and Information Reporting Portal without creating a file.
- Web File Upload: Click the link to access the file formats and learn more about this option.
- Departmental Notice – 1099NRS
eNC3 and Information Reporting Application
Frequently Asked Questions (Updated 3/1/17)