Tax FAQs
When are tax documents made available?
January 31st. By then, we’ll have either mailed or made all the required documents available in online banking. This includes 1099-INT, 1099-R, 1098, and Required Minimum Distribution notices. 5498 documents are only for your personal records, and we’ll send those after the tax filing deadline.
Why did I receive more than one 1099-INT?
If you moved to a different state during the prior year, or if you have more than 28 dividend-paying accounts, we send you multiple 1099-INT documents.
Why was I not mailed a 1099-INT or a 1098?
We only issue 1099-INT documents if you earned a combined $10 or more in dividends during the prior year. We only issue 1098 documents if you paid more than $600 in finance charges on a VACU mortgage or equity product.
Additionally, if you’re enrolled in eStatements & eNotices, your tax documents will be available as eNotices through online banking, rather than mailed.
When will my tax refund check be available after depositing it?
If your tax refund check was directly issued by the US Treasury, the first $5,000 will be available immediately. Otherwise, such as if your check was issued by a tax preparation service, your check may be subject to a hold.
Can I deposit a tax refund check that is payable to me and another person?
We’ll accept tax refund checks payable to two parties in two situations:
- All payees endorse the check and present their IDs inside of a branch.
- The check is deposited into an account with all payees’ names as primary or joint owners.
Can I get money off of my tax refund debit card at a VACU branch?
Any branch can help you with a cash advance, if the card is a Visa or Mastercard with your name printed on it.
Can I still contribute to my IRA for the previous tax year?
You have until the tax filing deadline to contribute for the previous tax year. Any prior year contributions must be done at a branch, or as a signed request by mail or fax.