How do I change address of royalty check?
Who do I contact with 1099 questions?
- If you have questions regarding your 1099 or have not received your 1099 by end of February, you should email email@example.com.
Who do I contact regarding my revenue check and what information do I need to present?
- If you have questions regarding your royalty check, please contact our office at firstname.lastname@example.org regarding this issue. Include your name, phone number with area code, and the check number.
When will I receive my 1099 form from Pillar?
The IRS requires 1099’s to be mailed no later than January 31st for the preceding calendar year.
When are royalty payments suspended?
Your royalty payments can be suspended for reasons of title dispute, death of owner, transfer of ownership, unknown address, and assignment ownership issues. The money will be released as soon as the issue is resolved. Keeping your information current may prevent this inconvenience.
What type of annual statements will I receive?
We provide to you the total net dollars paid to you. The net value noted on your 1099 should equal the total value of payments made to you during the calendar year.
What should I do if my check is lost, stolen, damaged, or older than 120 days?
- You should allow 30 business days to receive your check. If your check is lost, stolen, or more than 120 days old, please contact us at email@example.com. You will be informed of our void process, and then we will reissue the check with our next revenue distribution.
What is a “stale dated” check?
A stale dated check is one that is presented to the bank after a certain allowable window of time. It is not an invalid check, but Pillar Energy revenue checks cannot be honored after 120 days. If you did not deposit your check within that timeframe, we must re-issue the check. Please return the check to the address listed on the check and we will void and reissue the amount with your next check.
What happens when the interest owner of a property dies?
- Oil and gas interests are considered real property and as such are governed by the laws of the state in which the land is located. To transfer the interest according to a will, the will must be probated in the state in which the land is located. If there is no probate or if the will is not probated in the state in which the land is located, you should submit the below completed Affidavit of Heirship (also known as Affidavit of Death and Heirship), W9 , and a copy of the death certificate.
What are considerations when I haven’t received my check?
Pillar Energy remits revenue to you once your balance exceeds $100. Sometimes payments are held due to matters that create uncertainty in ownership, such as notice of death, change of address, transfer or property, assignment of interest or legal dispute. Payments due are accumulated and released when the matter in question has been resolved.
How do I transfer my interest in a property?
To change the payee on our records, you must change the record title of the owner. If the interest type is a royalty or mineral interest, you need to file a deed from yourself to the new owners in the records of the county in which the land being conveyed is located. We do not furnish deed forms or assist in the preparation of such conveyances. If you need help, you should employ an attorney with real property law knowledge in the state where the interest is located.