Max includes a helpful feature called Consolidated Tax Reporting. Each online bank prepares a 1099-INT statement for any accounts that have earned at least $10 in interest during the year. With one click, Max will attempt to gather the 1099-INT statements for all of your linked online savings accounts and will deliver them to you by email in a single password-protected PDF file that you can print or forward on to your accountant by email. In addition, if your financial advisor is listed in your profile, you will be given an option to send a copy of your Consolidated Tax Report to your advisor.
To retrieve your Consolidated Tax Report, click on “Tax” atop your Max Dashboard. Max will ask you to set a password for the PDF file. Max recommends that you pick a password that you will be comfortable sharing with your tax preparer. Click "Prepare My Consolidated Tax Report" to submit your request. Within an hour, you should receive an email containing a password-protected PDF file that includes all of the 1099-INT statements that Max was able to retrieve on your behalf.
Tax reports for the prior year are generally available beginning in February of the current year (i.e. tax reports for calendar year 2023 are available beginning in February 2024).
Please note: Some banks choose to offer checking and savings accounts under different brand names, so that they can offer preferential rates and terms to Max members. This means that the bank names on the 1099-INT statements that you receive may not match the brand names that appear on your Max Dashboard.
|Brand name listed on your Max Dashboard
|Bank that issues your 1099-INT statement
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