A $10 Bonus with a Million Dollar Tax Bill — 1099 Reporting Issues for Bank Account Promos

Webinar

A $10 Bonus with a Million Dollar Tax Bill — 1099 Reporting Issues for Bank Account Promos

Oct 2, 2024 | 11:00 am ET • 10:00 am CT | Webinar

Most people in the banking business are familiar with IRS Form 1099-INT, which deals with true interest payments (payments for the use or forbearance of money). 

However, confusion arises around the requirement to file Forms 1099-INT and 1099-MISC for promotional payments to customers, such as incentives for opening accounts, setting up direct deposits, or using specific debit cards. This issue has become more complicated with the rise of fintech. The lack of clear guidance can lead to significant missteps and potentially hefty penalties.

Gain an overview of some of the reporting issues and penalties and uncover a path forward for complying with Forms 1099-INT and 1099-MISC for promotional programs.

Learning Objectives:

  • Learn the reporting requirements to file Forms 1099-INT and 1099-MISC with respect to promotional payments paid to customers.
  • Identify the common reporting issues and penalties on 1099-INT and 1099-misc forms.
  • Recognize if you’re in compliance reporting on forms 1099-INT and 1099-MISC for promotional programs.

Duration: 60-minutes

Register
Register
Register
True

Pricing

ICBA Members

Live: $209

On-Demand: $229

Live + On-Demand: $249


Non-Members

Live: $309

On-Demand: $329

Live + On-Demand: $449


Unlimited Webinar Pass subscription: $0

Attendance/Cancellation Policy:

  • Registration fee is valid only for the individual registered. Each attendee must register.
  • Full payment is required prior to real-time event attendance. Digital products will be made available when full payment is received.
  • Digital product purchases cannot be cancelled once the order has been processed and the product is available to use.
  • Refunds will not be granted unless there is a technical issue that cannot be resolved that prevents the purchaser from accessing and/or using the product. Refund requests for technical issues must be received within 15 days of the date of purchase.

For more information, call 800-422-7285.

Who should attend: Director, Executive, C-Suite, Leadership, Operations

Prerequisites: None

Advanced Preparation: Basic knowledge of banking.

Program Level: Intermediate

Field of Study: Specialized Knowledge

Delivery Method: Group Internet Based

CPE Credit Hours: 1

group avatar horizontal
Jennifer Seybold

Counsel

Hunton Andrews Kurth

Code of Conduct

Registration, attendance, or participation at this event constitutes an agreement to adhere to the ICBA code of conduct and complaint policy. ICBA aims to be welcoming, safe, and inclusive to all participants, with the most varied and diverse backgrounds possible.

As such, The Independent Community Bankers of America (“ICBA” or the “Association”) has adopted a zero-tolerance policy toward all forms of unlawful discrimination and harassment.

Read Full Policy