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How Should Signing Agents Record Fees In Their Notary Journals?

New Hotline Resized 3I’m a Notary Signing Agent. Should I record my full signing fee in my Notary journal? If not, what do I put in the fee section? V.T., Utah

First of all, keeping a journal in Utah is not required, so just how you record information in your journal is up to you. Strictly speaking, the fee you receive from the signing company or closing agent is not a notarial fee. It covers all you do as a signing agent, including notarizing signatures on closing documents. Thus, you aren’t charging for the notarizations you perform. One possibility is to record “0” in the fee column of your journal and make a note that you were paid a flat fee for a loan signing on that date. Make sure you keep separate business records of all of the invoices and payments for loan signings you perform.

Hotline answers are based on the laws in the state where the question originated and may not reflect the laws of other states. If in doubt, always refer to your own state statutes. – The Editors

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3 Comments

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Susan

14 Jan 2019

I often don't charge for notary services, since this is an add-on to my real estate business and an extra service. I give my neighbors the "good neighbor discount" and have been "paid" with lemons from a backyard tree or cupcakes.

Linda C McCray

15 Jan 2019

How do you pay taxes on the flat rate you're paid.Aren't you considered a contract worker?

National Notary Association

16 Jan 2019

Hello. For general information about Notaries and income tax, please see this article: https://www.nationalnotary.org/notary-bulletin/blog/2015/02/five-tax-tips-for-notaries. We will be updating this article in the near future with information for the 2018 tax year. Please note that this is general information only and any questions about your specific income tax situation should be directed to the IRS or a qualified tax advisor.

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