In the United States, Form 1099-K "Payment Card and Third Party Network Transactions" is a variant of Form 1099 used to report payments received through reportable payment card transactions (such as debit, credit, or stored-value cards) and/or settlement of third-party payment network transactions.

Ignition Inc. is considered a Payment Settlement Entity and we will file the 1099-K should your gross payment volume through Ignition exceed the minimum threshold of $5,000 USD in total gross volume during the course of the year.

Note: Prior to 2024, the 1099K threshold was $20,000 USD in total gross volume and 200 transactions.

We will provide your business with the necessary 1099-K form that will include both ACH and credit card payments transacted using Ignition.

If you have $5,000 USD in total gross volume in the previous calendar year – and you’re based in the US or are a US taxpayer – you should expect to receive a 1099-K, either through paperless delivery or paper mailing.

We will e-file and mail the 1099-K, and you’ll receive this by the due date of January 31st.