This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation.
If you are an Acorns Invest and/or Early customer, we are processing the final adjustments and will make your tax forms available as soon as possible. We will keep you updated on the status of your tax forms no later than the end of February.
If you are an Acorns Later customer and made a withdrawal from your Later account last year, you will receive a 1099-R listing those withdrawals by January 31. If you made a contribution or rollover to your Later account last year, you will receive a 5498 listing any contributions by May 31 to allow for any prior year contributions. The 5498 is for your records and not required to file taxes.
Why so late?
Some of the Acorns portfolios included assets linked to real estate. They can be affected less by dips in the market, and their dividends can be higher. Because these funds tend to take a little longer to report their annual results, we wait to send your 1099 form with final numbers to avoid sending an amended tax form that may require you to re-file your taxes.
You may access a full schedule of the latest dates to receive your tax forms by through the Acorns web app: https://acorns.com/documents/core/taxreports
Be sure to talk to your CPA or tax professional or visit the IRS website to help determine how you should account for Later contributions when reporting your taxes.
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