Discussions will be held at the IOC headquarters in Lausanne between Bach and Chang Ung, a member of the North Korean Olympic body, the source added.
On Saturday, Chang said the hermit state was "likely to participate" in the Games in Pyeongchang from February 9-25, Kyodo news agency reported.
South Korea said Saturday that they already proposed sending a five-member delegation led by a government minister to rare talks with North Korea next week, the Unification Ministry in Seoul said Saturday.
The offer came a day after the two Koreas agreed to hold their first official dialogue in more than two years to discuss the North's participation in the Winter Olympics.
The two Koreas have been separated by the world's most heavily militarised border since the Korean War ended in a stalemate in 1953.
In recent months, the North has held multiple missile launches and its sixth and most powerful nuclear test -- purportedly of a hydrogen bomb -- in violation of UN resolutions banning such activity by the isolated nation.