If you have earned at least $10 or more of interest income including any Varo promotional bonus when you opened your account, you will receive a 1099-INT form.
The form will be mailed to the address on file by January 31, 2022. The form should arrive at the address on file within 10 business days. If you did not receive your tax form, after that timeframe go to FAQ How do I reach customer service? for options on how to contact us and we’ll be happy to assist you.
Once we have received your request for your 1099-INT tax form(s) to be reissued, the reissued tax form(s) will be delivered as an encrypted file to your email address within 3 business days. They will come from email@example.com. Your password for this encrypted file will be your TAX ID.
If you can’t wait for us to send your form, you can calculate the amount of interest received during the year in your Varo App, although it is definitely a little more complicated. Go to My Varo > Statements and Documents > Account Statements. Tap on each of your Varo Accounts. You will need the 2020 December statements and the 2021 January-November statements. Click on each month and view the “Interest accrued this period” amount. Add the amounts together and you have the amount accrued during that year.
Learn more about the 1099-INT form here.