Tax Season Is Here!
Things you need to know about your credit union tax forms

If you're like 144 million other Americans, then chances are you've probably started receiving the IRS forms you need in order to file your annual individual tax return. If you're lucky, you're among those expecting a hefty refund, and you are hoping to get your return filed as quickly as possible.

As an ACU member, your tax forms were sent out by January 31, with a few exceptions (noted below). If you're looking for your tax forms or have a question, the answers are here:

ACU Tax Form Facts:.

  • All members who earned more than $10 in dividends will receive a 1099-INT. If you did not earn more than $10 in dividends this year, ACU will not report your earnings to the IRS and you will not receive a 1099-INT.
  • Health Savings Account owners who took distributions from their account in 2013 will receive a 1099-SA.
  • IRA owners who withdrew money from their IRA will receive form 1099-R.
  • If you have a first mortgage or home equity loan with the credit union and you paid over $600 in mortgage interest, we will report your interest paid to the IRS and you will receive a 1098.
  • If you contributed to an ACU Health Savings Account in 2013, you will receive a 5498-SA. These forms will be mailed in mid-February. HSAs can accept contributions for tax year 2013 as late as April 15, 2014. If you make a contribution for tax year 2013 after you receive your 5498-SA, we will generate and file a corrected form before the IRS deadline of May 31, 2014.

Find Your Information Without Waiting on Forms:
If you don't want to wait on your tax forms, you can access most of your most important data by logging into Internet Teller. For share/savings type accounts, just click on the account name in the Account Center as if you were viewing your transactions. At the top of the screen, you will see "2013 Dividends". Remember you must have received $10 or more in dividends among all of your savings/checking/club/CD accounts in order to receive a 1099-INT.

For loan accounts, your 2013 interest is displayed at the upper-left portion of the transaction page.

If you still have questions about your tax forms, you may contact us via phone or Internet Teller's Communications Center. For questions regarding specific tax details, we encourage you to consult your tax adviser or the IRS website or telephone hotline.