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Why do I need to report this to the IRS?

The IRS has more information on form 1099-B and form 1099-DIV on their website, www.irs.gov. You can also contact the IRS toll free at 1-800-829-1040.

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.

This website is operated by Acorns Advisers, LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, an SEC registered broker-dealer and member FINRA/SIPC. Investments are not FDIC insured and may lose value. Investing involves risk and investments may lose value. Please consider your objectives and Acorns pricing before investing. Past performance does not guarantee future results. Investment outcomes and projections are hypothetical in nature. Limited time offer. Rewards are in the form of a purchase of investments in your Acorns portfolio. Shares are purchased once your friend’s account is approved. To be eligible for the reward, the person you refer must use your personal invitation code when they sign up. Acorns reserves the right to restrict or revoke this offer at any time. Acorns Visa™ debit cards are issued by Lincoln Savings Bank, member FDIC. "Acorns" and "Invest the Change" are registered trademarks of Acorns Grow, Inc.