This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation.
If your Acorn Invest account activity meets minimum reporting requirements, you will receive your 1099 tax form by February 15.
Why so late?
To help your money grow, we invest some of it in assets linked to real estate. They can be affected less by dips in the market, and their dividends can be higher.
Because these funds tend to take a little longer to report their annual results, we have to delay sending your 1099 form to make sure we have data from all the holdings in your portfolio.
If you’d planned to file your taxes earlier, consult your tax professional. You could incur a fee if you have to file twice.
If you made a withdrawal from your Later account last year, you will receive a 1099-R listing those withdrawals by January 31. If you made a contribution or rollover to your Later account last year, you will receive a 5498 listing any contributions by May 31 to allow for any prior year contributions. The 5489 is for your records and not required to file taxes.
Be sure to talk to your CPA or tax professional or visit the IRS website to help determine how you should account for Later contributions when reporting your taxes.