When will I receive a 1099-INT tax form for interest payments on my Varo Savings Account?
You will receive a 1099-INT form from The Bancorp Bank, our partner bank, before March of each year. If you did not meet minimum requirements in your Varo Savings Account you will not receive a 1099-INT form. Details on those requirements are available on the IRS website.
Do I need to report income from promotions, like Varo Referral Bonuses?
Bonuses are considered interest and will be reported on IRS form 1099-INT. 1099-INT forms will be sent to customers that received any bonus of $10 or more. If you do not receive a 1099-INT form from Varo (via The Bancorp Bank), and you believe you met the minimum requirements, please contact us.
Why is my tax form from The Bancorp Bank?
Varo Bank Accounts are provided by The Bancorp Bank, and deposits are FDIC-insured up to $250,000 through The Bancorp Bank; Member FDIC. As a result, all of your tax documents will be addressed from The Bancorp Bank.
I never received my tax forms, how do I request a replacement?
Please send any requests for replacements in digital format (PDF) to email@example.com. If you would like to receive a form by mail, please include your preferred address.