If you have questions about your taxes or filing a return — speak to a qualified professional. Wise can’t give you advice on your personal tax situation, and this article is meant for information purposes only.
For most users, if you earned interest in your Wise Account in the US, it'll be taxed as ordinary income in the year it's received. For all customers who earn more than $10.00 USD in interest, Wise will issue you a Form 1099-INT annually.
Downloading my 1099-INT form for taxes
If you earned $10 or more USD in the 2024 calendar year across your interest-earning balances, we’ll provide you with a 1099-INT to comply with standard IRS tax procedures.
Read about how we verify you to earn interest
To download your 1099-INT on the app or web:
Select your profile at the top
Select Statements and reports
Select Interest income — annual tax statements
Select Download
There’s an error on my 1099-INT form — how can I fix this?
If there’s an error on your 1099-INT, such as an incorrect name or address — contact us so we can get it sorted for you. Just let us know what the correct details should be. It must 100% match your IRS record.
The correction may take up to 15 business days. This is because we need to submit the changes to relevant tax authorities so a new form can be created.
I only earned interest in December, will I be getting a 1099-INT for the earned interest?
No, since the payout date is January 1, the accrued interest during December will be reported in the next tax year.
Disclaimer
The definition of a US person can be found in the Form W-9 instructions. For federal tax purposes, you're considered a US person if you are:
An individual who is a US citizen or U.S. resident alien
A partnership, corporation, company, or association created or organised in the United States or under the laws of the United States
An estate (other than a foreign estate)
A domestic trust (as defined in Regulations section 301.7701-7)
The current Program Bank is JPMorgan Chase Bank, N.A. See Appendix 1 of the Program Agreement for the most updated list of Program Bank(s).
Eligible customers must opt in to the interest feature. Participants will have the balance of their USD funds held in their Wise Account “swept” into a Federal Deposit Insurance Corporation (“FDIC”) -insured interest-bearing account at one or more participating banks (each, a “Program Bank”) that will hold and pay interest on the deposit funds.
For more information on FDIC insurance coverage, check www.fdic.gov.
Customers are responsible for monitoring their total assets at each of the Program Bank(s) to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The Program is not intended to be a long-term investment option, checking or savings account, investment contract or security.
Annual Percentage Yield (APY) — rates shown are true as of 24 January 2025. See Program Agreement for details.