1098-T Reporting

You may receive a notice from F&M through the mail asking for the student’s SSN.  This request is for 1098-T reporting purposes.  The forms are distributed by January 31 each year to students who meet the IRS’ reporting requirements.  The 1098-T reports the amount billed or adjusted for tuition and related fees (not room/board) to the student for the calendar year.  It also reflects the amount of scholarships/grants awarded or adjusted to the student for the same tax year.  The College is required to report this information annually on each student who meets the IRS’ reporting requirements. If the scholarships/grants awarded in a calendar year are in excess of the qualified tuition and fees billed, a 1098-T form will not be issued. 

All 1098-T forms require a taxpayer identification number (TIN) or a social security number (SSN). If we do not have an SSN on file for a student, a W-9S form will be sent to the student’s permanent resident address requesting their TIN or SSN for this purpose.  Students failing to furnish their TIN/SSN to institutions required to file information returns on their behalf may be subject to penalties by the IRS.  The College must file a 1098-T form for the student, even if the student fails or refuses to provide a TIN/SSN.   

Note to International Students & 1098-T Reporting:  In general, reporting under Form 1098-T is not required for non-resident alien individuals, unless they request for the institution to report such information.  Since, however, the College may not have enough information to determine residency of most international students, a 1098-T will be issued to all eligible internationally-designated students.