Q: What is required to sign and complete a Division Order?”
A: Click here for instructions for signing and completing Division Orders.
Q: What is a Form W-9 and why do I need to include my social security number or federal tax identification number?
A: Click Here for IRS Form W-9 Lincoln Crude is required to report income from crude oil purchases to the Internal Revenue Service on IRS Form 1099-MISC annually. Failure to include your social security number or federal tax identification number may result in 28% backup withholdings on your account and remitted to the IRS.
Q: How can I receive payment electronically instead of waiting on a paper check?
A: Complete and return to Lincoln Crude an Authorization Agreement for Automatic Deposits. Please be sure to attach a voided check to the form before returning.
Q: When does Lincoln Crude Oil Marketing make payment to interest owners?
A: Revenue payments are made on the 20th day of each month for oil purchased during the preceding month. If the 20th falls on a Saturday, payment will be made on the preceding Friday. If the 20th falls on a Sunday or a holiday, payment will be made on the next business day. 2018-Schedule of Crude Oil Payments-template.
Q: Why did I not receive payment for the month?
A: There are several reasons why you may have not received payment: For payment to be issued:
- Lincoln Crude must have purchased oil from your lease for the prior month.
- The amount payable to you must be at least $50.00
- Payments may be held in suspense due to: division order not returned or incomplete, address on account is incorrect, transfer of interest is pending, notice of death, or question of ownership.
Q: I have lost my revenue check. How do I get a replacement check?
A: Please contact our office at 618-899-5800 to obtain a Lost Check Affidavit Form to verify your check has been lost, misplaced, or stolen. Please be prepared to provide us with your name, owner number, social security number, and address when calling. After we verify a check was issued and we receive the completed Lost Check Affidavit Form back from you, we will issue a replacement check.
Q: What do I need to do if my revenue check is over 90 days old and I still have not cashed it?
A: VOID the check and send it back to Lincoln Crude with a written request for a replacement check.
Q: How do I change my physical mailing address?
A: Click here for the change of physical mailing address link.
Q: My family member is now deceased and I need to know what is required to transfer ownership to the heirs?
A: Contact Lincoln Crude’s office for specific instructions on transferring an interest.
Q: When will I receive my 1099-MISC Form for my revenue proceeds?
A: All 1099-MISC Forms will be mailed prior to January 31st of each year. You will receive a 1099-MISC if you were paid at least $10 in royalties (Box 2) or at least $600 of working interest (Box 7).