What is a 1099-INT form and will I get one?

The 1099-INT reflects interest payments received in your Cash Reserve, our high-yield cash account that’s part of our cash management suite.

You will receive one by Feb. 1, 2021, if you had Cash Reserve, and in 2020:

  • You received $10 or more in interest, or
  • You paid any federal taxes from your interest due to backup withholding.

Please note that while Betterment is generally not required to issue you a 1099-INT if you earned less than $10 of interest from your account, taxpayers are still required by the IRS to report and pay taxes on any earned income. You can see your interest history from the Activity page in your account here.

Betterment is not a tax advisor, nor should any information herein be considered tax advice. Please consult a qualified tax professional.