Fusion Servicing Director Clients who have successfully run the IRS 1098/1099 Export event in the Event Manager, and created the data file to be sent to the IRS for reporting 1098 and/or 1099 information for the 2019 tax year, may have noticed that two date fields on the Customer Service > End of Year > Reporting Info tab were left blank. The Transaction Posting date of record at the time the export was run, should have been used to populate one, or both, of those fields depending on the Criteria used at the time the IRS 1098/1099 Export event was run. The impacted fields are “Form 1098” and “Form 1099”, and populate from the EOYReporting table in the Service database. Finastra is actively working to correct this issue, and we expect to release a 19.4.2 patch on 1/22/2020 with a script for clients that have already submitted a data file to the IRS using the 19.4.1 release. For clients that have not yet submitted a data file, the 19.4.2 patch will contain a new IRSExport.dll file to correct the date field issue.

This Product Bulletin is posted to make you aware of the issue it describes so you can determine the steps or changes necessary to mitigate or avoid risk, ensure document compliance, or otherwise address the issue. This bulletin does not constitute legal advice. Any legal questions that your financial institution has should be directed to your compliance officer and legal counsel.

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000038486