The following are common questions from our members and the answers that normally fulfill the associated need. If you have additional questions, please feel free to contact us directly via phone at 206-628-4010, toll free at 888-628-4010 or via secured message within your digital banking account.
If you have registered for eStatements, your 1099-INT tax form is available online. After logging into Digital Banking, click the STATEMENTS/DOCUMENTS Widget and on the next page, select Notices. A page will display all of your available notices, including your 1099-INT. Just click on the name of the document and it will open in PDF form.
All tax forms are available in mid-January.
1099-INT forms are available for members who earned more than $10 in dividends during the calendar year.
1098 tax forms are available for members who paid more than $600 in mortgage-interest during the year.
If you're registered for eStatements then you also have access to important notices via eNotices; this includes your tax statements.
Plus, you can always find your dividends earned/interest paid on your December statement, as well as view it via Online Banking:
The 5498 form details your IRA contributions for the previous tax year, including your regular contributions, rollover, and direct transfer contributions. Since you are able to make regular contributions to your IRA for the previous year up until April 15th of the current year, the 5498 forms are not generated until after that date.
If you made contributions to your IRA for the tax year, you would include that information when you file your taxes. The 5498 form is provided for your records. You are not required to include the form with your taxes.
The credit union reports home equity loan interest to the IRS only if the amount paid was $600 or more. If you paid less than $600 for the tax year, it was not reported, and no 1098 form was generated on your account.
You are still welcome to report the interest when you file your taxes.