You may not receive a 1099 consolidated tax statement for the previous tax year for a few reasons, depending on certain account activities or account types.
Account activity
You won’t receive a 1099 consolidated tax statement if all of the following conditions are true:
You received less than $10 in net interest payments on your total portfolio.
You received less than $600 in incentive, bonus, or other miscellaneous payments from Happen Bank.
You didn’t hold any Notes tied to loans charged off in the previous tax year, or you didn’t receive recoveries or net proceeds on Notes tied to charged-off loans or transfers.
Account type
You won’t receive a 1099 consolidated tax statement if your account is:
Tax-deferred (for example, an IRA)
A registered C-corporation
A registered tax-exempt organization
Any other type of entity for which Happen Bank is not required to provide tax information
If you believe you should have received tax forms for the previous tax year based on the information above, please email tax@happen.com.
