Consolidated 1099 Int Form (USAA Federal Savings Bank)

This past Jan-Feb (2015) we all recieved the series of 1099's from USAA IMCO and USAA Federal Savings Bank (FSB) for the 2014 tax year.  I noticed that USAA FSB sent a series of 1099-INT forms for each CD, Savings and Checking account in which interest was earned.  I got six seperate 1099-INT forms from USAA FSB.  In past years we recieved a consolidated statement from USAA FSB which (in my opinion) made it a little easier when preparing my tax return.  Did anyone else notice this change and does anyone know the reason why USAA FSB issued seperate 1099-INT forms for the 2014 tax year?  Furthermore, is there anyway we can encourage USAA FSB to return to a consolidated 1099-INT form assuming I'm not the only member who found this a little annoying?  


Thank you for posting in the community, Art59!


I would be more than happy to pass this suggestion over to someone in the bank. We appreciate and value your feedback, thank you!

AngelaCabanUSAA: As we approach a new (2015) tax seasonwill USAA FSB issue a single, consolidated 1099-INT?  Again, this single consolidated document just makes life a little easier.


Thank you.

Hi Art59!


I would be more than happy to look into this for you.

Angela:  I'll be standing by (for your answer) as I'm sure will many USAA members who have multiple bank accounts (drawing interest) as tax season is quickly approaching.


Please remember, this is not a huge problem but multiple forms just made it a little harder on those of us who file their own taxes.  Previous to tax year 2014, the consolidated 1099-INT made life just a little easier and less prone to a mistake.


Therefore please share this exchange with a USAA FSB decision maker.



Thank you for posting in the Community. I did hear back from our bank team and here is the update:


"As was the case last year, members will receive a 1099-INT for each individual account in which they earned in excess of $10 in interest or promotional credits for 2015. USAA will not be providing a consolidated 1099-INT to include all accounts."


Hope this helps, thank you.



Thank you for following up.  That answer was not what I was hoping to hear but in fairness you did what I asked, you asked the question on my behalf and got an answer.


Thank you again.


Very respectfully,