Your account type and transactions will determine whether or not you receive a tax form.


Individual and Entity Accounts

Standard (non-retirement) accounts will receive a Consolidated Form 1099 if at least one of the following conditions apply during the tax year. Retirement accounts do not receive a consolidated 1099.

 

  • Created a closing transaction
  • Participated in a certain corporate action, such as a tender offer
  • Earned at least $10 in interest (1099-INT)
  • Earned at least $10 in dividends (10990-DIV)
  • Had an Original Issue Discount (OID) that was valued at least $10 (1099-OID)
  • Earned at least $10 in miscellaneous income (i.e., a distribution from an MLP)


If you do not fall under any of the categories above, then that means your account will not be issued a Consolidated 1099, which means that you will not find a Form 1099 in our Tax Center. We do not report dividends or interest earned below $10 as income, but if you earned any amount under $10, then monthly statements can be used as proof of the payment for tax reporting purposes.


Individual Retirement Accounts (IRA)

Any contribution(s) (deposit) made to any qualified retirement account will receive a Form 5498. On the other hand, distribution(s)a (withdrawal) from any qualified retirement account will receive a Form 1099-R.


International Accounts

International customers that receive income that is subject to tax withholding will generate a Form 1042-S. Dividend payments and interest payments are some examples of income that may be subject to tax withholding.