Your 1099-INT form includes the total interest deposited in your account in a tax year. It includes interest earned on your SoFi Checking and Savings accounts (including vaults), as well as any interest you may have earned on your SoFi Money account. Form 1009-INT also includes certain rewards activity that the IRS regulations treat as interest. The following is a list of common rewards activity that is reported on Form 1099-INT:
- Direct Deposit Bonus
- Activate SoFi Checking & Savings or SoFi Money debit card
- Recurring crypto coin purchase
- Recurring direct deposit (posted)
- Set up Autopay
- Recurring deposit into Invest
- Funding a new SoFi Checking & Savings or SoFi Money account