For more information about your 1099-INT form, please see below.
Members may have questions about receiving a 1099-INT tax form. A 1099-INT is required by the IRS when amounts of $10.00 and over in value are paid to the member, directly or indirectly. A 1099-INT reports interest earned, bonus dollars paid, and other amounts gifted toward association dues or new account funding.
Here are a few of the top reasons that you may have received a 1099-INT tax form from First Tech Federal Credit Union:
- Purchased a vehicle through a dealership where the loan is provided by First Tech
- First Tech purchased your loan from a partner or another financial institution
- Became a First Tech Federal Credit Union member by applying online
- Received a monetary bonus for participating in a promotion
- First Tech funded your new Membership Savings account
- First Tech paid the dues to one of these associations on your behalf: Financial Fitness Association (FFA) or Computer History Museum (CHM).
Note: this is a partial list of scenarios and members may experience multiple scenarios.