What’s a 1099 form?

A 1099 is a tax form for reporting income. The most common 1099s are the 1099-INT for interest and the 1099-MISC for miscellaneous payments, like prizes or referral bonuses. If you have or had a Chime Savings Account and earned a yearly total of $10 or more in interest and/or bonuses for account openings or increasing your balance, you’ll receive a 1099-INT form. If you received a total of $600 or more from Chime bonuses, promotions, or sweepstakes this year, you’ll receive a 1099-MISC form. And if both of those situations apply to you, you’ll receive both forms. 

You can use the information from your 1099 form(s) to file your 2021 taxes. The information from your 1099 form(s) has been reported to the IRS.

If you are eligible, you will receive the form in one of two ways: 

  • You can locate and download your form within the ‘Documents’ section via the app or web. You may need to update your Chime app to the latest version to view your tax documents.
  • If your account was not active at the time forms were issued, we will automatically mail the 1099 INT/MISC form to the last address you had on file.

When will I receive my 1099?

You’ll get your 1099 form(s) for 2021 (or instructions for how to access your 1099) by January 31, 2022. If you have an active Chime account, you'll receive an email with instructions for viewing your 1099 form(s) in-app. 

If you don’t have an active Chime account, you’ll receive your 1099 form(s) in the mail. 

It’s past January 31 and I didn’t receive anything. Where’s my form?

If you received at least $10 in interest or at least $600 from Chime bonuses, promotions, or sweepstakes, you’ll see the form posted in your Chime ‘Tax documents’ hub by January 22, 2022. 

How do I use the information from my 1099 form to file my taxes?

This depends on what form you received and your unique tax situation. It’s best to use tax filing software, work with a tax professional, or reach out to the IRS if you have questions about the 1099 form you received. 

 

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