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Increasing your Financial IQ

Will I get a 1098 or 1099-INT?

woman paying bills on tablet

Tax season is not too far away, and we want to give you answers to questions you might have about your important tax documents.


When will I receive my 1098 or 1099-INT?

1098 – For Loan Interest Paid

IRS regulation requires all credit unions to mail a form 1098 by January 31 of each year. A Member who has paid interest during the prior year on a mortgage loan will get a 1098. This includes second mortgages and home equity loans. Other loans, such as company vehicles, commercial loans, etc., can report interest paid as well.

1099-INT – Interest earned on deposit accounts (checking, savings, certificate of deposit) 

IRS regulation requires all credit unions to mail a form 1099-INT by January 31 of each year. A Member who has earned more than $10 in dividends during the prior year will receive a 1099-INT. 1099s are only mailed if the interest earned is more than $10 for the account.

I haven’t received my tax forms. What do I do?

If you haven’t received your necessary tax forms by February 11, 2022, please visit a Centra location near you or call us at 800-232-3642. You can also visit a Centra location or give us a call if you need a correction or reprint.

For quick answers to your questions, you can always chat with Sam, our virtual guide! Look for the green chat bubble.