Will I get a 1098 or 1099-INT?
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.