Year-End Interest and Tax Reporting FAQs

General Questions

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How much interest did I earn last year?

Interest from each account with the same Taxpayer Identification Number (TIN) is reported to you on IRS form 1099-INT.

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When are 1099 INT forms mailed?

All 1099 INT forms must be mailed by January 31.

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I do not earn interest on my account. What is this $25 in interest?

The dollar value of any special promotion or premium is considered paid interest if the value of the premium is $10 or more.

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When will I receive a statement for the contributions to my IRA?

Deposit contributions made between January 1 of the previous year and April 17 of the current year for IRA and Roth plans will be reported to you on IRS form 5498 by May 30 of the current year.

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My address is wrong and I need a replacement 1099 INT. Who should I contact?

Customer Service or your local branch can correct your address and order a duplicate/replacement statement the same day. Find a TCF Bank location near you.

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I cashed a savings bond/coupon. Where is that interest reported?

The interest earned on your cashed savings bond/coupon is reported on IRS form 1099 INT. TCF, in general, does not report interest of less than $10 for a Taxpayer Identification Number (TIN).

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There is an error on my 1099 INT statement. How do I correct it?

Report the error to your local branch office. The branch personnel will make the corrections and send you a corrected 1099 INT statement. Find a TCF Bank location near you.

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I made less than $10 in interest. Do I need to report this?

Check with your tax advisor or the IRS. TCF, in general, does not report interest of less than $10 for a Taxpayer Identification Number (TIN).

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Why are you withholding taxes on my interest payments?

TCF withholds taxes on interest earned if you have not provided a Taxpayer ID Number (TIN), the TIN has not been certified or the IRS has directed TCF to do so.

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When is my tax refund check available after deposit?

Direct deposit items are available immediately. U.S. government checks are available the next business day following the deposit. Non-local checks are available on the 5th business day following the deposit.

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Why did you pay interest into my account on December 31?

According to IRS regulations, interest must be reported whether or not it is actually posted to the account. To simplify year-end reporting, TCF chooses to pay the interest into the account at year-end. All interest bearing Checking and Savings accounts pay interest earned on normal statement cycle dates. Interest is paid through December 30 on all interest bearing checking accounts. Savings accounts will be paid interest through December 31.

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How can I check on the status of my IRS tax refund?

You can check on the status of your refund at www.irs.gov.