What’s changed?
Previously, you would receive a 1099 INT for each separate membership on which you were the Tax Owner. Now, our new platform consolidates the reporting by individual Social Security Number.
This means that if you are the primary member/tax owner on 5 separate memberships you will now receive a single 1099 INT that will include reportable earnings for all your accounts instead of 5 separate forms. This should simplify your tax preparation process.
You may verify interest/dividends paid on your individual memberships on your monthly/quarterly statements.
If you have any questions regarding this change, please contact us at member.services@azcentralcu.org
