When will I receive my 1099-INT tax form?

This article provides an overview regarding IRS Form 1099-INT, Interest Income (“1099-INT”) for the 2021 tax year. As a result of our transition to Coastal Community Bank, Member FDIC, in 2021, when a 1099-INT will be generated and sent is determined by the dates your account was active and how much interest was paid during that time. 

Please review the following information to help determine if you qualify for a 1099-INT: 

• If your account was active between January 1, 2021 - August 31, 2021, and you were paid $10.00 or more in interest during that time, you’ll receive a 1099-INT from Bancorp.
• If your account was active between September 1, 2021 - December 31, 2021, and you were paid $10.00 or more in interest during that time; you’ll receive a 1099-INT from Bluevine.
• If your account was active at any point during the year and you were paid less than $10.00 in interest during both January 1, 2021 - August 31, 2021 and September 1, 2021 - December 31, 2021, you will not receive a 1099-INT. 
• If you are a corporation, you will not receive a 1099-INT.
  Note: As the IRS doesn’t require corporations to submit 1099-INT forms, corporations will not receive a 1099-INT. If your business is no longer a corporation or recently became one, please contact customer support to correct or update your information.

Note: Given the transition to Coastal Community Bank, Member FDIC, on September 1, 2021, it is possible you may receive two 1099-INT forms. If you were paid $10.00 or more in interest between January 1, 2021 - August 31, 2021, you’ll receive a 1099-INT from The Bancorp Bank. Additionally, if you were paid $10.00 or more in interest between September 1, 2021 - December 31, 2021, you’ll also receive a 1099-INT from Bluevine.
It is possible that you may receive a 1099-INT from Bancorp and not one from Bluevine, and vice versa, depending on the above factors.

Frequently Asked Questions

When will I receive my 1099-INT?

If you qualify for a 1099-INT, it will be mailed in mid-January, 2022. If your account is active, it will also be available as a PDF download in your Bluevine Dashboard in early February 2022.

How will I receive my 1099-INT?
1099-INT forms will be mailed in mid-January, 2022. If your account is active, it will also be available as a PDF download in your Bluevine Dashboard in early February 2022.

Where will my 1099-INT be sent to?

If you’ve provided an Employer Identification Number (EIN) then your 1099-INT form(s) will be sent to the business address on file.
If you’ve provided only a Social Security Number (SSN), then your 1099-INT form(s) will be sent to the personal address on file.

I received $10.00 or more interest throughout the entire year. Will I qualify for a 1099-INT?

You’ll only be eligible for a 1099-INT if $10.00 or more was paid between January 1, 2021, and August 31, 2021, or separately between September 1, 2021, and December 31, 2021.

For further questions:
For any 1099-INT questions, please contact customer support at (888) 216-9619.

Note: This support article should not be construed as professional advice of any type, such as financial, legal, tax, or accounting advice. Please consult with an expert if you need specific advice for your business.