Update for IRS Form 1098 Processing Issues in CAMS-ii (TM)

We have updated your CAMS-ii server to fix a problem with some IRS Form processing reports—

• that listed too many accounts on the 1098 Proof Listing
• that generated a 1098 driver file with those extra accounts
• and that reported the 2016 beginning balance instead of the 2017 beginning balance.

The driver file is fixed, the manually-run reports reflect the correct data, the forms are correct, and the correct beginning balance appears.

Note: This software update does not automatically regenerate a 1098 Proof Listing, so you must regenerate it to get an accurate 1098 Proof List at Back Office > Standard > IRS Tax Process -– Choose the appropriate IRS Forms and select Proof Listing from the Tax Process drop-down list.

The regenerated 1098 Proof List will be available in the DRM as CU$1099LST PROOF LIST-- 1099s, 1098s.

Further instructions for running a Proof List are available in the CAMS-ii HELP; go to CAMS-ii How-To's > I thru L > IRS Tax Processes > About IRS Tax Processes/IRS Checklist.

If you have any questions about this post, please contact your Support Center.