When should I expect to receive my 1099?

1099’s are mailed out no later than January 31st after the previous year.

What are the options on how to receive my payments and payment details?

Payments can be received either by Check, Direct Deposit (preferred method) or Wire Transfer.  The payment details are automatically mailed with the actual check when payment is made via check. If payment is made by either direct deposit or wire transfer, payment details can be obtained from our third-party provider, Oildex.  To change your method of payment or do get Oildex Login Information please email [email protected].

What should I do if I don’t get my check?

Due to postal service delays, please allow 10 days from the time that you normally receive your check before you contact us.  We will then verify that in fact a payment had been issued and if not, the reason why.  We can also work with you on what future action to take.

How do I put my interest into a Trust?

Once you have the Trust setup (we suggest you consult an attorney for this endeavor), please provide us with a copy of the Trust Agreement along with a deed or assignment from yourself, individually, to the trust.  This document will need to be recorded in the county where the property is located and we need a copy of the recorded document.  This can either be mailed to the attention of Division Orders or emailed to [email protected].

How do I transfer my ownership to someone else?

Please contact your attorney to prepare all of the necessary paperwork and provide us with a recorded deed or assignment that has been recorded in the county where the property is located.

How long will it take RMCO to respond to my correspondence?

We attempt to reply to every letter within 30 business days of receipt of your letter.  It could be longer due to the volume of requests that we receive as well as the nature of the request as some issues take longer to resolve.  We attempt to respond\acknowledge emails within two working days but it may take longer for the resolution.  Our goal us to reply to telephone messages within 24 hours of receipt during the business week.  We will continue to strive to reduce these response times.

How long does it take for a transfer of interest to occur?

Once the required\recorded information has been received by RMCO, our goal is to have the ownership changes made to our system within 30 days.  This does depend upon the volume of requests that we receive.

When should I expect my DR21W?

DR21W forms are mailed out no later than March 1st after the previous year.

When are payments sent out?

Payments made via check are mailed out of our Greenwood Village, CO office on the 20th of the month following the month of production.  Direct Deposits go out of our bank one day later.  If the 20th occurs on a Saturday, then payments go out the day before on Friday. If the 20th falls on a Sunday the payments go out one day later on the Monday.  If the Monday happens to be a Holiday, then the payments go out on the Tuesday.

How do I change my name on your records if I got married/divorced?

Please provide us a copy of your marriage certificate or divorcee decree depending on the reason for the name change.  This can either be mailed to the attention of Division Orders or emailed to [email protected]

How do I notify RMCO of a change in Trustee?

Please send a copy of the document evidencing the appointment of the new trustee either by mail or emailed to [email protected].

How do I add my spouse to my ownership?

Please provide us with a recorded copy of the deed or assignment prepared from you, individually, to you and your spouse.  This will need to have been recorded in the county where the property is located.

Why is backup withholding deducted from my revenue check?

A valid Tax Identification Number or Social Security Number must be provided to RMCO for reporting and identification purposes. If it is not provided, then the IRS requires withholding 28% of all revenues (30% for foreign residents) until the information is provided.

What do I do when the owner of record passes away?

Notify RMCO that the individual has passed away. Please provide a copy of the death certificate, copy of the Will of the deceased and documentation from the Court establishing who has been appointed as the Personal Representative of the Estate.  Once this documentation has been received, we will review it and advise the Personal Representative if any additional documentation is required.  If the interest is owned by joint tenants with a right of survivorship, we will only need a copy of the death certificate.

If an owner passes away without a will, please furnish as many of the following documents as possible.
-Death Certificate
-Letters of Administration
-Order determining heirship and distribution: and/or
-Affidavit of Heirship

As laws vary from state to state, RMCO will inform you of any additional information needed.

If an owner passes away with a will which has been admitted to probate proceedings in the state where the producing property is located, please furnish as many of the following documents as possible:
-Death Certificate
-Application for Probate
-Copy of Will
-Order admitting the Will to Probate
-Letter Testamentary
-Final court decree distributing the assets and closing the administration of the estate.
-Copies of appropriate conveyances
In some instances, RMCO’s Division Order Department may require other documentation.

This list of documentation needed maybe not all inclusive as at times each circumstance can be unique.

If your question has not been answered above, please do not hesitate to contact us and we will promptly reply as quickly as we can to your question.