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Will I be provided with the proper tax forms?

If you qualify to receive tax forms under the federal rules, Acorns Securities will send you the proper tax forms.

Most people who actively invest will receive a 1099 form on or before March 15 for the prior calendar year. We’d love to send them earlier, but some of the ETFs in your portfolio don’t report the necessary information to us until February. Here’s what you need to know:

What’s a 1099 form?
The 1099 form is an IRS tax form that lists important information like realized gains or losses from your investments, income from dividends and any foreign taxes paid on your investments. The information on a 1099 form is reported by Acorns to you and the IRS.

How will I get it?
Acorns Securities will email a link to your 1099 form to the email address in your Acorns profile.

When will I get it?
On or before March 15 for the prior calendar year.

Why so late? To help your money grow, we invest some of it in assets linked to real estate. They tend to be affected less by dips in the market, and their dividends tend to be higher. But, they take a little longer to report their annual results. To ensure that your 1099 form reflects the most up-to-date figures, and protect you from needing to refile, we send your 1099 form when we receive final results.
If you’d planned to file your taxes earlier, it may be best to wait or consult your tax professional. You could incur a fee if you have to file twice.

What do I do with my 1099 form?
That’s a good question for your tax professional. She can help you determine whether you meet reporting requirements set by the IRS.

For information about the tax implications involved with investing, please visit the IRS website or contact your tax professional.

If you have any other questions, feel free to reach out to our support team.

Acorns follows IRS de minimus rules (i.e. not enough to be considered) for 1099 reporting. If the gross proceeds from fractional sales of securities or the cumulative amount of income or dividends received during the tax year do not exceed the IRS reporting thresholds, we do not include these amounts on the 1099 and they are not reported to the IRS.

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