Who will be the primary account holder of a joint Cash Reserve account?

The account holder who opened the joint account is designated as the primary account holder. To see who the primary account holder is, log in and navigate to Settings > Accounts.

We aren’t able to transfer primary ownership of a joint account once it’s been created. However, remember that a joint account is legally owned by both parties associated with the account. The IRS requires only the primary account holder be listed on tax statements.

The primary account holder, which is the person who originally created the account, will receive the 1099-INT form associated with the joint account. Integrations with tax preparation software will only work with the primary account holder’s Betterment account.

Since Betterment is not a tax advisor, we highly recommend consulting with a tax professional for further questions regarding how to file your taxes in a joint Cash Reserve account.