What’s a 1099-INT tax form?

Article author
Tatiana B.
  • Updated

Who receives a 1099-INT? 

Where is my 1099-INT? 

Important tax information  

The 1099-INT form is a tax form that's used to report any interest you earned last year to the IRS. Interest-paying accounts can include savings accounts, checking accounts, and more. 

The interest you earn on your short-term savings can be a great way to make sure all your money is working for you — it's expressed as a percentage that you earn from the "annual percentage yield," or APY, on your accounts. We think of this interest as the "icing on the cake" while you invest for the long-term. To learn more about APY, check out Learn in your Acorns app.

Who receives a 1099-INT?

If you have a Mighty Oak Checking and/or Emergency Fund account and you earned more than $10 in interest last year, you'll receive a 1099-INT tax form. 

Currently, only our Mighty Oak accounts earn interest — you can learn more about our Mighty Oak debit card here. You'll need to have money saved in your Mighty Oak Checking and/or Emergency Fund account in order to earn interest  — any balance over $0 will earn interest.

If you're not sure if your account is earning interest, you can check the "Recent Activity" section of your Checking or Emergency Fund accounts to see if there are any monthly interest payments.

  1. Log in to your account
  2. Tap or click “Checking”
  3. Scroll down
  4. Tap or click “Recent Activity”
  5. If your account earns interest, you'll see monthly interest payments on the last day of the month

Where is my 1099-INT?

If you qualify for a 1099-INT form, we'll email a link to download your form by February 1, 2024. You can also check for tax forms under Settings.

Here's the full schedule for the different types of tax forms you may receive from Acorns this tax season, following the deadlines set by the IRS.

Important tax information

Your tax situation is unique, you may want to talk to a tax professional or visit www.irs.gov to figure out what applies to you and what you may need to report.

Acorns doesn't provide tax advice, but if you have any questions or concerns about your account, please contact us.

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