Tax Forms2014-03-28T14:35:02+00:00

Tax forms are to be processed for delivery by January 31 each calendar year.

1099-INT Interest Statement Form: This form is generated when interest or dividends paid to an account have exceeded $10.00. This total is per account and is the combination of interest across suffixes that earn interest or dividends within that account. If you received less than $10.00 in interest or dividends you may find the year-to-date interest earned on your December Statement as “DIVIDENDS YTD” for the interest-earning suffix. For more information, visit the IRS page for 1099-INT.

1098 Mortgage Interest Statement Form: This form is generated when a mortgage note has exceeded $600.00 interest paid. This is per suffix and not the combination of interest across notes. If you paid less than $600.00 in mortgage interest you may find the year-to-date paid interest on your December Statement as “YTD FINANCE CHARGE” for the mortgage suffix. For more information, visit the IRS page for 1098.

5498 IRA Contribution Form: This form is generated when you have made IRA contributions for the tax year. This form is only delivered by postal delivery. For more information, visit the IRS page for 5498.

1098 and 1099-INT forms are delivered by the same means as your account receives statements. If your account is setup for eStatements, then your tax forms will appear on your eStatement portal. These forms may be viewed by logging into your online account, clicking “E-Statements” from the left menu, and then selecting “Tax Forms” from the top right drop-down selection box. Tax information is also available in your online access account via the left-hand menu titled “Tax Info” — this may be helpful if you did not meet the reporting requirements listed above for the 1098 and 1099-INT. If you receive your statements via postal delivery then you will receive your tax forms via postal delivery as well.

If you have not met the above dollar amounts for the 1098 and 1099-INT forms, you will not receive a form of that type. No forms are generated for accounts that do not hit the requirements.

Posted in: GENERAL