Common Reporting Standard Software for AEoI Reporting & CRS Reporting.

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CRS Software

Common Reporting Standard Software

Common Reporting Standard Software

For more information, please
contact Michael Stewart at ms@1099pro.com.

CRS Software: Common Reporting Standard

Versions

Single User*

$1099.00

2 to 5 Users*

$1499.00

Unlimited Users*

$1899.00





*Pre-sale only. Available for download ~ June 5th, 2017.

CRS Software

CRS Pro Software Features
  • Unlimited filing entities
  • 1,000+ accounts / records
  • Single, multi (2-5), or unlimited users
  • Account importing from Excel, tab, csv, or manual entry
  • Summary totals reports by entity
  • Customizable reports & data filters
  • XML file generation per the OECD CRS XML Schema
  • CRS Pro Brochure

Common Reporting Standard & Automatic Exchange of Information

In October of 2014, the UK and 50 other countries from the Organisation for Economic Co-operation and Development (OECD) signed up to the Common Reporting Standard (CRS), as requested by the G20.

The CRS requires jurisdictions to obtain account information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis.

This reporting process expands on the OECD's work on the Automatic Exchange of Information for Tax Matters (AEoI) and is currently supported by 100 jurisdictions - see AEoI Commitments.

CRS Reporting Framework

The Common Reporting Standard (CRS) is best broken down into 4 key sections that are listed below:

  1. A model Competent Authority Agreement (CAA) that provides the international legal framework for the automatic exchange of CRS information.

  2. The Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEoI) which draws on previous work from the OECD automatic exchanges and the Foreign Account Tax Compliance Act (FATCA).
    1. See 1099 Pro's FATCA 8966 Reporting Software for FATCA related software & information.

  3. Legal CAA & CRS Commentaries that help explain the CAA & CRS items above.

  4. The overly complex CRS XML Schema User Guide that outlines the XML reporting specifications. This does not yet include the file submission method which, for the similar FATCA reporting, was highly complicated.
Lastly, the Organisation for Economic Cooperation and Development (OECD) has released an unofficial CRS Implementation Handbook that helps detail CRS definitions, due diligence processes, and reporting requirements.

CRS Reportable Entities & Accounts

CRS Reporting requirements are vastly different and more complicated than other models (i.e FATCA) as there are many more jurisdictions involved. However, the basics are:

  1. Identify if the entity is a reporting financial institution.
    1. The information being reporting must belong to an entity (legal persons or legal arrangements), the entity must be in a participating jurisdiction, the entity must be classified as a Financial Institution (FI), the entity must not be categorized as "non-reporting" by its tax jurisdiction.

  2. Review the FI's accounts and determine which accounts are reportable.
    1. Generally, reportable financial accounts to be reviewed are: depository accounts, custodial accounts, equity & debt instruments, & cash value insurance contracts and annuity contracts.
    2. Generally, non-reportable financial accounts are: retirement and pension accounts, non-retirment tax favored accounts, term life insurance contracts, estate accounts, escrow accounts, depository accounts due to not returned over payments, and other low risk excluded accounts.

CRS Due Diligence & De Minimus Thresholds

CRS reporting requires due diligence on existing accounts, classification of accounts in terms of pre-existing or new, and application of de minimus thresholds:

  1. Due Diligence Deadlines:
    1. December 31, 2016 - Identify high value individual accounts (>$1m).
    2. December 31, 2017 - Identify entity accounts and low value individual accounts.
  2. Account Classification:
    1. Pre-Existing - Accounts opened on or before December 31, 2015.
    2. New - Accounts opened on or after January 1, 2016.
  3. De Minimis Thresholds:
    1. Pre-existing entity accounts, less than $250,000, fall under the de minimis thresholds.
    2. No other de minimis thresholds!

CRS Reporting Deadlines & Jurisdictions

Deadlines for reporting CRS information vary by tax jurisdiction and thus must be monitored closely for any additions or changes. In general, the exchange of information is slated to begin in September of 2017 and the OECD provides jurisdiction-specific information here.

CRS Professional Software: The Ultimate Common Reporting Standard Software, CRS Reporting Software, & AEoI Software for CRS Reporting & XML Filing.

1099 Pro: Support

1099 Pro | Products & Services Brochure 1099 Pro offers industry leading support via phone, email, live chat, remote computer connection, and video walkthroughs. 1099 Pro's experts can assist with anything from installations, importing, network troubleshooting errors, data retrieval, printing/mailing, electronic filing, or simply finding out which software or service is best for you!

Standard Hours: M-F, 5am - 5pm PST
Additional Hours: Sat/Sun, 8am - 12noon PST in January

1099 Pro General: (888) 776-1099, sales@1099pro.com
1099 Pro Service Bureau: (866) 444-3559, sb@1099pro.com

FATCA Reporting Software

1099 Pro provides secure and intuitive FATCA Form 8966 software capable of tax form management and IRS XML reporting. FATCA 8966 Pro is capable of:

  • Bulk data importing or manual entry
  • Form 8966 PDF Generation
  • GIIN Validation
  • XML file generation
  • IDES Packaging
  • Corrections Filing

Bulk TIN Matching

Bulk TIN Checking is an essential compliance and risk mitigation service that identifies TIN/Name mismatches prior to filing with the IRS. Penalties can be assessed at up to $100/record at the IRS’s discretion.

  • Submit files directly from software *NEW*
  • Bulk files of up to 100,000 records per file
  • SSAE 16 SOC I Type II secure environment

1042-S Reporting Software

1042-S Pro provides business rules & IRS validations upon data imports and form entry to help ensure proper 1042-S filing. 1042-S Pro is capable of:

  • Bulk data importing or manual entry
  • Form 1042-S PDF Generation
  • Form 1042-S Alternate Combined Layouts
  • TIN/GIIN Validation
  • IRS eFile generation
  • Corrections Filing

TIN & GIIN Validation Services

Another great option to validate your TIN/Name and GIIN/Name combinations via individual checks or bulk! TINCheck.com is a straight-forward and user friendly resource; simply log in and instantly gain access to multiple verification sources in one place.

  • Complete list validation: OFAC, DMF, EPLS, LEIE, TIN/Name
  • Integrate an API/web service into an existing AP system for seamless verification of new vendors
  • FREE trial account - just click on "Register".

Requirements for Workstations:

  • Windows 2008/2008 R2/8/2012/2014/10
  • 32 or 64 bit operating system compatible
  • Intel Pentium II/Celeron or AMD Athlon/Sempron/Turion (Minimum)
  • 512MB or more preferred
  • 1 GB free hard drive space
  • For use with ANY Windows compatible printer
  • Internet Explorer® 7.0 or higher (ASP.net only)

Requirements for Web Server:

  • Minimum of an Intel Xeon, i7 or equivalent
  • Processor Speed of 2 GHZ
  • Memory of 4GB or higher
  • MS .NET Framework 4.5

*Licensee is responsible for all Microsoft® licenses

Can 1099 Pro be installed on a network?

Yes, you can purchase the 1099 Pro multi-user license which will allow you to install the software on 2-5 workstations. You can also purchase the unlimited user license which will allow you to install the software on any number of workstations.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Can 1099 Pro print, mail, and file my forms?

Yes, we have a Service Bureau for that specific purpose! Please see our Service Bureau web page on this site for more information.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Can 1099 Pro process corrections?

Every version of 1099 Pro can process corrections.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Can I create a correction on a record that has already been corrected?

Corporate Suite support corrections of already filed forms, and corrections of already filed corrections. By simply double clicking on your filed record, you can make additional adjustments. Additionally, 1099 Pro will automatically generate a "zeroed out" copy of all corrected originals if recipient names or TINs are changed.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Can I export my data from another program into 1099 Pro?

Data can be exported from almost every third party software in an Excel or delimited format. To do this, create an export in the software that contains all of your data that you wish to import into 1099 Pro. Include all of the necessary fields that would be reported to the IRS; name, address, tin, dollar amount, etc.

Export to Excel, delimited, CSV, or TAB file which can then be mapped and imported into 1099 Pro.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Does 1099 Pro offer any other software?

1099 Pro, Inc. develops and markets a comprehensive range of award winning, easy to use, yet powerful Windows software products designed to fulfill all 1099, W-2, and 1042-S filing requirements.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


How do I transfer my data and custom maps from a previous version of the software?

During the installation wizard, you will be given the option to roll your previous import maps, as well as recipient and filer information into the new install.

Note, the roll forward feature will not bring forward any of your financial data. Rather, it is intended to save you the trouble of reentering all of your recipient and filer contact information, as well as your security settings and transmitter information.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


How do I transfer my data from my old computer to my new computer?

The following instructions will explain how to update your old computer's installation of 1099 Pro to the most recent version, backup your data, then restore that information on your new computer. If you are unsure how to complete any of these steps, please refer to Frequently Asked Questions for more information.

Step 1: Update
Run an software update on your old computer to ensure your software is up-to-date. Once your update is complete, back up your data.

Step 2: Backup
Upon running the data backup wizard, a date and time stamped backup zip file will be stored in the following location:

C:\Program Files\Pro99Txx\Data Backups

Step 3: Restore
On your new computer, download the same version/year of 1099 Pro that you were using on your old computer, and run an update. Once the web update is done, unzip the backup file into the following location:

C:\Program Files\Pro99Txx\Data

When the software asks you if you want to overwrite the existing files, click on "Yes to All", and continue to complete the wizard. You information has now been transferred!

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


How do I update my software?

To check for updates:
1. Close 1099 Pro.
2. On your Windows desktop click "Start", "Programs", "1099 Pro 20XX" and "Check for 1099 Pro Updates".
3. After downloading any files click the "Finish" button. The Wise Installation Wizard opens automatically to install the update files.

Alternate Method:
Visit host.1099pro.com to download updates, patches, or the most updated copy of 1099 Pro.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


How do I upload to the Service Bureau to print, mail, efile, or Bulk TIN match?

  • Printing & Mailing Upload:
    Once you have imported your records, click on Via the Service Bureau under the 2nd step, "Printing & Mailing", located to the left of your screen. Click on the Printing & Mailing or E-Delivery Upload button located at the top of your screen to initiate a helpful Wizard that will guide you through the upload process. On the last screen, click on Finish to print your Control Totals report. Review an sign your report. Back in your software, highlight your pending upload, and click on the Complete Pending Upload option located at the bottom of the screen to send your upload to the Service Bureau. Fax/email your Control Totals and cover sheet to sb@1099pro.com to confirm that you are ready for the Service Bureau to print and mail your records!

  • Electronic Filing Upload:
    When you are ready to upload your records to the IRS or SSA, click on Electronic Filing under the 3rd step, "Filing My Forms", located to the left of your screen. Click on the Filing with the IRS Upload button located at the top of your screen to initiate a helpful Wizard that will guide you through the upload process. On the last screen, click on Finish to print your Control Totals report. Review an sign your report. Back in your software, highlight your pending upload, and click on the Complete Pending Upload option located at the bottom of the screen to send your upload to the Service Bureau. Fax/email your Control Totals and cover sheet to sb@1099pro.com to confirm that you are ready for the Service Bureau to electronically file your records!

  • Bulk TIN Upload:
    To run a Bulk TIN match using the Service Bureau, click on Via the Service Bureau under the 2nd step, "Printing & Mailing", located to the left of your screen. Click on the Bulk TIN Matching Upload button located at the top of your screen to initiate a helpful Wizard that will guide you through the upload process. On the last screen, click on Finish to print your Control Totals report. Review an sign your report. Back in your software, highlight your pending upload, and click on the Complete Pending Upload option located at the bottom of the screen to send your upload to the Service Bureau. Fax/email your Control Totals and cover sheet to sb@1099pro.com to confirm that you are ready for the Service Bureau to check your TINs!

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


How do I view my rolled over recipient data?

Open your software and click on the Recipients List option located near the bottom left of yhe screen. This Screen will list all of your recipient information. Also, while entering data manually into any form, press the F2 key or right-click in the Recipient Identification Number box.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Where are the Data and Backup Data folders stored?

If you open your software and go to Help and About in the menu bar, a screen will display with information about your software. Click on the 1099 Pro icon in the upper left corner, A screen display showing you where the software is installed. Your data is stored at the location displayed under Global Data Path.

If you have additional questions, email support@1099pro.com or call us at 888-776-1099.


Order Online

Order your 1099 Pro software the fast and easy way, online! Just click the Buy Now button next to the version of the software that you want and it will be added to your shopping cart.

When ordering online, you can choose to immediately download your software or have it delivered right to your door.


Phone in your Order Toll Free

Phone in your Order Toll Free

Order the traditional way, by phoning in your order. Our sales staff is ready and waiting to take your order.

Toll-Free Sales: (888) 776-1099
Hours: M - F, 7 am to 5 pm (PST)


Fax or Mail in your Order

Fax or Mail in your Order

You can also place your order by fax or by following the instructions below:

  1. Download our order form: 2016 ORDER FORM (197k,PDF)

  2. Print the order form, fill it out in its entirety and select the products you want to purchase. To avoid delays, be sure to add appropriate sales tax and shipping for your area.
  3. Fax your order to us at: (818) 876-0202

       - or -

    Mail your order form and payment (check, money order or credit card information) to:
       1099 Pro, Inc.
       23901 Calabasas Road, Suite 2080
       Calabasas, CA 91302-4104