Which Banks Send Out Tax Form 1099? (Discussion Post for 2024 Tax Forms)

January and the ensuing months are Form 1099 season! Each year there are interesting developments that happen with regards to banks issuing form 1099s for interest, bank bonuses, referral bonuses, etc. Remember that time when Chase considered 500 Ultimate Rewards points as $500 on the Form 1099? And they followed up in 2024 by considering certain credit card signup bonuses as 1099 income. I digress…

Most of the standard tax forms we’ll receive by the end of January, per federal bank rules. There are a few tax forms which are sent out in later months.

The comments here are a dedicated discussion post where we can discuss all things related to tax form 1099 for year 2024: when forms become available, which banks don’t send out 1099s, which earnings are supposed to be reported on the form 1099, referral bonus discussion, and any other weirdnesses that happen.

I’ll add in below any specific tidbits that catch my eye, and we’ll likely republish this post as things develop. If there is a significant story we’ll publish that separately as well.

Note, receiving a tax form or not receiving one has no bearing on your actual tax liability. This discussion is just to inform people on what to expect, when to look out for a form, check for any mistakes, remember to report something from a bonus that isn’t getting a tax form, etc. Consult a tax advisor about actual tax liability.
    Chuck
  • On January 20, 2025, 11:21
Tags: 1099taxes

View Comments (442)

  • Received tax forms from the following:

    All Netspend accounts
    Banner
    Capital One
    Elements
    Wells Fargo
    Axos
    Bank of America
    Zions (Cali Bank & Trust)
    CITI
    Chase 
    So-Fi
    DCU
    PenFed

    Still waiting on:
    BMO (I called them and they said I will have received the form in my mail by Week 2 in Feb.)
    U.S. Bank (I called them and was told I will get one in the mail soon)

  • Received Bask Bank for saving and checking interests but the $200 checking bonus was not included.

    Waiting on Santander Bank, Truist and Citadel Credit Union.

    Received from the following
    NorthWest FCU
    KeyBank
    Citi Bank
    S&T Bank
    American Express
    Fidelity CMA
    Bask Bank
    Bank of America
    Affinity FCU
    Synchrony Bank
    DCU

      • Received Upgrade 1099-misc for referrals. I had the checking account, got $300 bonus, and $1k for referrals. Got the 1099-misc for latter; nothing for the bonus. Didn’t get the savings account.

    • @guest_1988659 How much was your Upgrade bonus? Over $600? P1 and P2 each got $300 Referral bonus, but only P1 received a 1099-INT for $500+ in Interest. No 1099's for the bonuses.

    • Nothing in my account yet. Only got like .20 interest but I did get a new account bonus. Aside from brokerages and Chase referrals, it's the only one left on my list.

  • Received most of them (apart from brokerage and crypto accounts), still missing:

    • Santander (accounts were closed in 2024)
    • East Cambridge Savings Bank
    • NASA Federal CU (accounts were closed in 2024)
    • Current
    • Lili
    • Chase Ink referrals

    Some that I have received contain errors (not enough reported) and some did not include the SUB at all.

  • Any dealpoints on if Independent Financial (TX and CO) sends a 1099INT/MISC? Nothing in the mail yet, and their online statements page errors out since my account was closed.

    Waiting for:
    Independent Financial
    Upgrade (sounds like they don't historically issue or report)
    US Bank

    Received so far:
    Alliant CU (online only)
    Ally (online only)
    Axos (MISC, both online and paper)
    Bank of America (paper only)
    CIBC (online only)
    Citi (paper only)
    First Tech FCU (paper only)
    Keybank for Laurel Road (both online and paper)
    Live Oak (paper only)
    SoFi (online only)
    Wells Fargo (both online an paper)

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