Your 1099-INT forms:
Are you working on your tax returns? Are you wondering why you did not receive a 1099-INT form for a particular tax year? Here are some possible reasons:
1. You earned less than $10 in that year:
The IRS asks credit unions & banks to send 1099-INT forms to a depositor only if his/her account earned $10 or more in one calendar year.
Look at the statement you received for the period ending December 31st of that year.
See the bottom of the last page under the heading "Account Summary." Look at the dollar amount below the heading that reads, "YTD Dividend." If the amount shown there is less than ten dollars, report the YTD Dividend amount on your tax return. Or, provide it to your tax preparer.
Does your tax preparer insist on receiving documentation to substantiate that amount? You may want to provide them with a photocopy of your year-end statement for that tax year.
2. If you did earn $10 or more on one of your WSFCU accounts: your 1099--INT form may not yet have arrived in the mail.
a. Had you provided us with your most current mailing address before we mailed out your 1099-INT form?
(1) If not: allow at least 10 days for the post office to forward your mail from your former address to your new one
(2) If so: Most financial institutions try to have them postmarked by January 31st of the year that follows the prior tax year; please allow at least 3 to 4 mail-delivery days for your 1099-INT form to reach you.
b. Are you receiving mail at someone else's home or post office box?
(1) If it's a box, ask the owner of the box to inform the post office of the names of all other individuals who will receive mail at that address.
(2) If it's a residence address, you may want to ask the primary resident(s) to inform the letter carrier.
(3) A more reliable way is to ask WSFCU to slightly modify the address you have given us:
123 Main Street
Anywhere, TX 00000
c/o 123 Main Street
Anywhere, TX 00000
c. Do you need to notify us of an Address Change? If so, when you send it, if you earned $10 or more in WSFCU dividends, enclose a note. Let us know if you have not yet received your 1099-INT form. (The 1099-INT form we sent out earlier may have been returned.)
Kindly contact us if you have any questions that this page does not answer. .