*1098-T Reporting Guide*

Summary

Northstar supports reporting of IRS Form 1098-T through various forms and reports mentioned in this guide. By tracking payments for tuition-related expenses, Northstar can generate Form 1098-T results that can be delivered to students and submitted to the IRS. 

Calendar

  • Jan 1
    • The [E] - 1098-T report is available to generate for the current reporting year.
    • The Portal displays a banner alerting students that 1098-T statements will be available by Jan 31.
  • Jan 31
    • IRS deadline for furnishing Copy B to students.
    • The [E] - 1098T report no longer allows generating new results for the current year.
    • The Portal displays a notification that 1098-T statements are now available.
  • Feb 28
    • IRS deadline for Filers to submit Copy A by mail.
  • Mar 31
    • IRS deadline for Filers to submit Copy A electronically.

Instructions

  1. Follow the instructions for the updated 1098-T Records form to generate, review and publish results by Jan 31.
  2. After all approved results have been published, the [T] - 1098T FIRE report can be used to generate the text file to be uploaded to the IRS FIRE system before the Mar 31 deadline.

Additional Information

These are the core 1098-T forms and reports:

In addition, Northstar also includes several other reports meant to supplement the reporting process in various ways. Their use may not apply to every college but you can learn more about them by clicking the links below:

Notification and Delivery

The IRS allows institutions the option of delivering 1098-T results to students electronically only, without having to send a copy by mail.

Northstar's portal allows students to opt-in to electronic delivery as part of the online application or through the Student Dashboard when they login to the portal. The portal displays notifications throughout the tax season to keep students informed of when and how they can access their results.

Be sure to read Be sure to read Treasury Regulations section 1.6050S-2

The  1098-T PDF Instructions reference the Treasure Regulations regarding how electronic delivery recipients must be notified. Please read the full treasury link above, noting the highlighted section quoted below.

5.i. "If the statement is furnished on a Web site, the furnisher must notify the recipient that the statement is posted on a Web site. The notice may be delivered by mail, electronic mail, or in person. The notice must provide instructions on how to access and print the statement. The notice must include the following statement in capital letters, “IMPORTANT TAX RETURN DOCUMENT AVAILABLE.” If the notice is provided by electronic mail, the foregoing statement must be on the subject line of the electronic mail."

Note: All students who receive a 1098-T will be able to access it online, regardless of their electronic delivery election. The only difference is that students who do not opt-in do not opt-in will still need to be sent a copy by mail.

Opting In

When logged in, students are first directed to the Student Dashboard. On that dashboard, students can click the Update Additional Information link to update their preference.

Note: Students who login that has not previously answered the 1098-T electronic delivery question will be directed to the 1098-T disclaimer page and be required to select an option before continuing to the rest of the portal.

Resources