Section 101. Schedule K-1 Processing›3.0.101 Schedule K-1 Processing›Section 01 Errors
Section 01NM1 - Payee Name Line 1
Internal Revenue Manual Part 3. Submission Processing · 2026-10-03 edition · updated 2026-10-04 · United States
Valid characters are alpha, hyphen (-), blank, numeric, and ampersand (&).
Invalid Conditions:
Field is completely blank.
Field has characters other than alpha, hyphen (-), numeric, or ampersand (&).
A character follows two consecutive blanks.
The first position has a blank.
The number of character positions is more than 40.
Correction Procedure:
MeF - Correct all coding and transcription errors. If name is not present, research using the TIN if present.
If
Then
There is a name entered in SEC01NM2
Move to SEC01NM1
TIN research matches name in 01ADD There is an address match on CC INOLE
Enter the name from CC INOLE as the Payee
There is no information or no information on CC INOLE
Enter "Z" and continue processing
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