When will I receive my 1099-INT tax form? – Bluevine Help Center

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.

Will not receive Form 1099-INT

Will receive a Form 1099-INT from The Bancorp Bank

Will receive a Form 1099-INT from Bluevine

Will receive two Forms 1099-INT

Was not paid $10.00 or more in interest either between January 1, 2021 - August 31, 2021 or September 1, 2021 - December 31, 2021
OR

Your business is a corporation

Delivery Method:

N/A

$10.00 or more in interest paid between January 1, 2021 - August 31, 2021

Delivery Method:
Mailed out mid- January 2022 and available via Bluevine Dashboard early February 2022

$10.00 or more in interest paid between September 1, 2021 - December 31, 202

Delivery Method:
Mailed out mid-January 2022 and available via Bluevine Dashboard early February 2022

$10.00 or more in interest paid between January 1, 2021 - August 31, 2021, AND $10.00 or more in interest paid between September 1, 2021 - December 31, 2021

Delivery Method:
Mailed out mid-January 2022 and available via Bluevine Dashboard early February 2022

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.

Starting February 1, 2022, customers will earn 1.2% interest on the total balance of Bluevine Business Checking accounts and Sub-accounts up to and including $100,000. No interest earned on total balances over $100,000. As of May 1, 2022, customers will earn interest on total balances up to and including $100,000 only if they meet the monthly debit transaction or deposit requirements described in Section M of the Account Agreement. Any interest accrued and payable will be paid to your Bluevine Business Checking account.
Customers will receive a Bluevine Business Debit Mastercard only for use with the main Bluevine Business Checking account.
No limit on number of transactions. However, all accounts are subject to the aggregated monthly deposit and withdrawal amount limits of the Account Agreement.
The national average and comparison are based on interest rates paid by U.S. depository institutions as calculated by the FDIC.
Debit transactions must post to your account before the end of the month to qualify toward that month’s eligibility requirement. Bluevine Business Debit Mastercard is issued by Coastal Community Bank pursuant to a license from Mastercard Inc.
Qualifying transactions only include mobile deposits of customer checks, customer payments made via ACH or wire, and customer payments transferred from payment processing providers. These transactions must post to your account or sub-accounts before the end of the month to qualify toward that month’s eligibility requirement. Transactions that do not qualify include, but are not limited to, mobile deposits of checks drawn on accounts you hold at any institution, cash deposits, and transfers from any of your external accounts, except those associated with payment processing providers.

Frequently Asked Questions

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