|What is the purpose of my owner number?||Each owner is assigned a unique five-digit code for their account. Please include this number on all communications with 1849, including voicemails and e-mails.|
|Why am I being asked to provide a W-9?||Federal law requires that individuals and legal entities (i.e. corporation, partnerships, etc.) provide a certified Taxpayer Identification Number (TIN) for the owner account. For individual owners, your TIN is your Social Security Number (SSN) or Employer Identification Number (EIN). If the appropriate TIN is not received, 1849 is required to withhold a percentage of your payment.|
|Does 1849 provide direct deposit?||1849 does not provide direct deposit currently.|
|Address Change Requirements||Owners should notify 1849 as soon as possible when your mailing address changes. Download, complete and submit 1849’s Address Change form which is linked on the website. For your protection, 1849 does not accept address changes over the phone. The form may be submitted by mail, fax, or e-mail.|
|Name Changes||Marriage – Copy of Marriage Certificate
Divorce – Copy of Final Divorce Decree reinstating maiden or prior name
Legal Change – Court order evidencing name change
Merger – Certificate of Merger and TIN
LLC or Entity Name Change – Certificate evidencing name change
|Purchase or Sale of Interest||For a full or partial conveyance of a mineral, royalty, overriding royalty or working interest, please furnish the following:
|Change of Ownership||In almost all cases, a new W-9 will be required along with other documentation. Please furnish a copy of the Final Divorce Decree and copies of all recorded conveyances pertaining to the Change of Ownership. Title to real property owned by a deceased party passes one of two ways – either by testate succession or by intestate succession. Testate is with a probated Last Will and Testament. Intestate is without a Will. In the absence of a Will, or if the Will has not been probated, title to real property passes according to the Laws of Descent and Distribution for the State in which the wells/property are located, and not the state of residence. Depending on the circumstance, the documentation 1849 must be provided is as follows:
Testate (probated Will)
Intestate (without a Will or Will not probated)
|Trusts||When a Trust is created 1849 will require copies of the Trust Agreement and the recorded conveyance into the Trust. When the Trust is dissolved, 1849 will need a copy of the Dissolution of Trust or other appropriate recorded conveyance. Change of Trustee (Death or Resignation) 1849 will need the recorded instrument evidencing Trustee death or resignation and appointment of Successor Trustee. For a change of Trustee by appointment, 1849 will need a copy of the Trust Agreement or Memorandum of Trust.|
|Guardianship||When an owner is declared incompetent, furnish Letters of Guardianship issued by the local court.|
|Minors||When a minor reaches the legal age, please provide a copy of the minor’s Birth Certificate.|
|Life Tenant||Also referred to as a Life Estate. When an owner of a Life Estate dies, 1849 will need a copy of the Death Certificate and the names, addresses and SSN/EIN of the persons who succeed to the interest (Remaindermen). In some instances, 1849 will need further information including a copy of the documents which originally created the Life Tenancy and named the successors in interest.|
|Termination of Joint Tenancy Upon Death||Furnish a copy of the Death Certificate and the SSN/EIN numbers of the new owner(s).|
|When are royalty checks issued?||Royalty checks are issued and mailed on or about the 25th day of the month. Oil revenue is normally paid within 30 – 60 days following the sales month and natural gas revenue is normally paid within 60 – 90 days following the sales month. If either of these days falls on a weekend or holiday, 1849 will issue checks on the preceding business day.|
|What do I do if I do not receive my royalty check?||Sometimes, payments are held because of title situations such as a change of address, notice of death, transfer of property and other legal matters. Once the matter affecting ownership is resolved, the accumulated payment will be released to the owner.
|How do I access detail regarding royalty checks?||1849 hosts its royalty check detail via EnergyLink. Please see the hyperlink provided on the Owner Relations page and follow the instructions as set forth.|
|Why are royalty payments suspended?||The most common reasons that payments are suspended include: a title dispute, the assignment of interest, notice of death, transfer of property, lack of a signed Division Order or in the event of an incorrect address.|
|When should I receive my Form 1099?||Form 1099’s are mailed via the United States Postal Service on or before January 31st each year for the preceding calendar year. Please allow ten business days for the form to arrive.
The IRS does not require 1099 forms for:
|What other important Form 1099 information should I be aware of?||
Revenue is reported on Form 1099 – Miscellaneous Income for the year in which the check was issued; regardless of when the owner received the check. Form 1099 – Miscellaneous Income reports an owner’s gross income paid by 1849 prior to any other miscellaneous or tax deductions and any state or federal tax withholding amounts.
If you do not receive an expected Form 1099 by February 15 or have an inquiry regarding the information presented on a Form 1099, please send an email to firstname.lastname@example.org or call 682-360-0360. For either option, include your complete owner number, your first and last name and the last of your TIN, along with all details related to your inquiry. Inquiries by owners whom provide incomplete information regarding their inquiry will not receive a response.
1849 will not be responsible for providing duplicate check and production data copies, information on deductions for taxes, or any other information that has been already provided to owners monthly.