Update Form 1099-K
In order to submit your Form 1099-K correction request, make sure to have a copy of an official bank statement on your bank’s letterhead which shows transfers from Square to your business. The statement can show any month from the year you’re requesting an updated Form 1099-K and should include your full bank statement.
If you are requesting to update multiple Form 1099-Ks, make sure to include a bank statement for each correlating year.
If you used multiple bank accounts in the year that needs correction, please provide a statement for each bank account you received transfers from Square.
Your bank statement(s) must clearly show:
Official bank letterhead with your bank’s logo.
The bank holder’s name and address. Note: The bank account holder’s name and address need to match the name/information in your Square Dashboard under Taxpayer Information for the updated Form 1099-K.
The bank account number or the last 3 digits of the account if you’re using a credit union.
Transfers from Square in the same year as your requested Form 1099-K correction.
Once your prior year Form 1099-K correction request is approved, generally allow 30-60 days to receive the corrected form. Any prior year corrections submitted near or during tax season (January through April) will take additional time to process.
Learn more about taxpayer information, qualifying and viewing your Form 1099-K, and general tax reporting procedures with Square.