Feel free to ask us anything!

Will I be provided with the proper tax forms?

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.

Yes! But which tax forms you receive will depend on what kind of account you have with us.

Acorns Invest & Acorns Early

If you meet IRS minimum reporting requirements, we will email you with the status of your 1099 tax form in February. We’d love to send them earlier, but some of the ETFs that were in your portfolio don’t report the information we need to complete your 1099 form until February.

Wait. What’s a 1099 form?

The 1099 form lists important information like any money you made when you withdrew money from your Acorns account(s). When you withdraw money from your account(s), we must sell holdings in your portfolio. If your investments gained in value, you may be taxed on those gains. The form also notes any money you may have made from account rebalances, dividends, referral bonuses or Earn Rewards. We report the information on your 1099 form to you and the IRS.

How will I get it?

We’ll email a link to your 1099 form to the email address in your Acorns profile. You can also access it using our web app or mobile browser, even if you’ve closed your Acorns account. Please log in here and select “Tax Reports” from the “Statements” dropdown menu. Unfortunately, you are currently unable to access your 1099 through the mobile app.

What do I do with my 1099 form?

If you receive a 1099 form, you may be responsible for reporting the information it contains to the IRS.

Be sure to talk to your CPA or tax professional or visit the IRS website to help determine how you should report this information to the IRS.

Later

You'll get a 1099-R by January 31 if you withdrew any money from your Acorns Later account in the previous calendar year.

Wait. What’s a 1099-R form?

The 1099-R form lists any money you took out of your Acorns Later account last year.

How will I get it?

We’ll email a link to your 1099 form to the email address in your Acorns profile. You can also access it using our web app or mobile browser, even if you’ve closed your Acorns account. Please log in here and select “Tax Reports” from the “Statements” dropdown menu. Unfortunately, you are currently unable to access your 1099 through the mobile app.

What do I do with my 1099-R form?

Depending on how much you withdrew and your age, you may have to pay taxes on money taken from your Later account. Be sure to talk to your CPA or tax professional or visit the IRS website to determine what applies to you and what you may need to report.

What is a 5498 form?

You’ll get a 5498 form if you made a contribution or rollover to your Acorns Later account during the tax year. You won’t need to use this form when you file your taxes. It’s just for your records. This form will be delivered to you by May 31.

To see the latest dates by which you can expect to receive your tax forms, please review our tax schedule here.

Be sure to talk to your CPA or tax professional or visit the IRS website to help determine how you should report this information to the IRS.

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