Missing year-to-date interest on statements

[NSueZ]

USAA - In the years 2020 and before, the interest paid to date was always on the 12-31-xx checking and savings account statements.  In 2021, I cannot seem to find this information with the newly formatted statements.  Have I missed the spot on the statements where the year-to-date information is located?  This year-to-date information would make it much easier for reporting on tax returns.  

[gorbachi · Accepted solution]

@NSueZ

You didn't miss anything.  The current and previous YTD interest totals are no longer on the statements .... nor are they shown using the USAA App.  To see them, you must log in on your USAA.com account with a web browser.  You will then be able to see them on the right side when viewing a particular account.

[USAA Social Service]

@NSueZ, Thanks for reaching out. If you are looking for the tax form that has your previous years earnings you receive those if your account earned at least $10. Please chat or give us a call at 210-531-8722 so that we can look into your documents closer. ~Tom

[NSueZ]

@USAA - I do understand about receiving the 1099-INT if there has been more than $10 of interest earned on an account because that is the reporting requirement for 1099-INTs (just like the reporting requirement for a 1099-NEC is $600, etc).  However, the reporting requirement for a 1099-INT (or a 1099-NEC) is not the same requirement as for reporting information on our tax returns - if it is earned (whether a form is received or not), it is to be reported.  I am just confused why USAA is no longer presenting this information on the statements as members need this information for their taxes and as an accountant, I have not seen any other banks omit this information from their statements.  The new statement format at USAA is not an improvement over the previous format for many reasons (e.g., reconciliation page is gone, deposits as well as cleared checks are not shown separately, no year-to-date interest information).  (Note to USAA-no need to call me to discuss - been there, done that and nothing has changed).   

I do want to give a big shout out to @gorbachi though for understanding the question/concern and pointing me in the right direction so that I could copy and paste the interest information into a word doc so I could print it (for whatever reason I could not print it directly from the USAA website) for my records.   @gorbachi-thanks again for your help.    

[USAA Social Service]

We appreciate your feedback on the changes / improvements you would like to see on the statements. We can certainly share your concerns with the department in charge of our statement formatting and processing for future updates and enhancements of this service. Thank you!