Why does my royalty check amount vary?
Various factors will affect your royalty check, including:
- Fluctuating commodity prices
- Normal production volume declines
- Operational issues that may affect production volumes
Volume or price revisions may require prior period adjustments (PPAs). If you were either overpaid or underpaid, adjustments are necessary to correct the previous payment. You will see the adjustments reflected in your remittance advice.
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My 1099 shows more than I received on my royalty checks
We are required by the IRS to report the gross amount on your 1099-MISC and 1099-NEC. Your royalty checks reflect the net amount received after taxes and deductions. All the information to get the net (check) amount is provided from your revenue ...
I didn't receive my December check until January, why is it included on my 1099?
The IRS uses the “Constructive Receipt” doctrine. Because the December royalty check was issued in December, the amount is appropriately included on the 1099 even if you received the check in January.
When Are Royalty Payments Suspended?
To help protect your royalty revenue and reduce the chance of delayed or suspended payments, Urban Oil & Gas strongly encourages all owners to enroll in Direct Deposit (ACH/EFT). Direct Deposit keeps your banking details current, bypasses mail ...
What do I do if my check is Lost, Stolen, or Expired?
DID YOU KNOW? Physical checks are significantly more likely to be lost, stolen, or delayed than electronic payments. To protect your royalty revenue, Urban strongly encourages owners to use both our Lost Check Affidavit (when a check goes missing) ...
How Do I Access my Check Detail?
Urban now provides an electronic copy of your Revenue Statements on a secure website called EnergyLink. This easy to use system is free and will allow you to access, manage, and print your Revenue Payments online. If you are registered with ...