Apple Savings Account sends you a 1099-INT if you earned interest

If you held money in an Apple Savings Account during the year and earned interest on it, Apple will send you a 1099-INT form — a tax document that reports the interest income to you and to the IRS. You do not request this form; Apple mails it automatically to the address on file if your interest earnings meet the IRS threshold. The form arrives by January 31st each year for the previous year's earnings.

The IRS requires banks to report interest income of $10 or more on a 1099-INT. If you earned less than $10 in interest during the year, Apple will not send you a form, but you may still owe tax on that income depending on your situation — check with a tax professional if you are unsure.

Apple Savings Account is a savings product offered through Goldman Sachs Bank USA. When you open the account, you provide your mailing address. Apple uses that address to send your 1099-INT in January.

Key Takeaways

  • Apple automatically sends a 1099-INT form by January 31st if you earned $10 or more in interest during the previous year.
  • You cannot request an early 1099-INT; the form is generated once annually after the year ends.
  • If you did not receive your form by early February, log into your Apple Savings Account or contact Goldman Sachs to verify your mailing address is correct.
  • You can view your interest earnings in the Apple Wallet app under the Savings Account details before the official form arrives.

Where to find your 1099-INT if you did not receive it by mail

If January 31st has passed and you have not received your 1099-INT in the mail, start by checking the address Apple has on file. Open the Apple Wallet app, tap your Savings Account, and look at the account details or settings. If the mailing address is wrong, update it when ready — though this will not speed up the current year's form, it ensures future forms go to the right place.

If your address is correct but you still have not received the form by mid-February, contact Goldman Sachs directly. You can reach them through the Apple Wallet app by selecting your Savings Account and looking for customer service or support options. Have your account number and Social Security number ready. Goldman Sachs can confirm whether a 1099-INT was issued to you and can remail it or provide a copy.

Some people also receive their 1099-INT electronically through a find message in the Apple Wallet app rather than by physical mail. Check your app notifications and messages during late January and early February.

How to report your 1099-INT interest on your tax return

When you file your federal income tax return, you will report the interest income shown on your 1099-INT. The amount goes on Schedule B (Interest and Ordinary Dividends) if you are filing Form 1040, or directly on Form 1040-SR if you are over 65. If your total interest income from all sources is $1,500 or less, you may be able to report it directly on your main tax form without using Schedule B — check the current year's IRS instructions.

The IRS receives a copy of your 1099-INT at the same time you do, so the income is already in their system. Reporting it on your return ensures your records match theirs and prevents delays or notices later.

If you earned interest from multiple banks or savings accounts, you will receive a separate 1099-INT from each one. Add all the interest amounts together when you report on your tax return.

What to do if the 1099-INT amount looks wrong

Review the interest amount on your 1099-INT against what you see in the Apple Wallet app under your account history or statements. The app shows your interest deposits month by month, so you can add them up and compare. If the totals do not match, contact Goldman Sachs with the discrepancy and the dates of the deposits that seem incorrect.

Errors on 1099-INT forms do happen — sometimes due to account transfers, closed accounts, or data entry mistakes. Goldman Sachs can investigate and issue a corrected form (called a 1099-INT with a "corrected" indicator) if needed. This corrected form must be filed with the IRS, and you should report the corrected amount on your tax return instead of the original.

Do not ignore a discrepancy. If you report a different amount than what the IRS received on the original 1099-INT, you may receive a notice asking you to explain the difference.

Interest rates and how they affect your 1099-INT amount

Apple Savings Account interest rates change over time and are set by Goldman Sachs. The rate you earn depends on the rate in effect when your money is in the account. If rates drop during the year, your interest earnings will be lower than if rates had stayed high. This is why the amount on your 1099-INT varies from year to year even if you keep the same balance.

You can see the current interest rate in the Apple Wallet app. Historical rates are sometimes available in your account statements or transaction history. The interest you earn is calculated daily and deposited monthly, so you can track it throughout the year before the 1099-INT arrives.

Keeping records of your 1099-INT

Keep your 1099-INT form with your tax return and supporting documents for at least three years. The IRS can audit returns from the past three years, and having the original form proves you reported the income correctly. If you file electronically, you do not need to mail the form to the IRS, but you should still keep a copy for your records.

If you lose your physical copy, you can request a duplicate from Goldman Sachs. Save electronic copies in a folder with your other tax documents, or photograph the form if you prefer a paper backup.

Frequently Asked Questions

Can I get my 1099-INT before January 31st?

No. The IRS requires 1099-INT forms to be issued by January 31st, but Apple and Goldman Sachs cannot send them earlier. You can see your interest earnings in the Apple Wallet app throughout the year, which gives you an idea of what the form will show.

What if I closed my Apple Savings Account during the year?

You will still receive a 1099-INT for the interest you earned while the account was open, as long as it totaled $10 or more. It will be mailed to the address you had on file when the account was closed.

Do I need a 1099-INT if I earned less than $10 in interest?

Apple will not send you a form, but you may still owe tax on the interest depending on your filing status and total income. Consult a tax professional if you are unsure whether to report small amounts of interest.

What if I moved and did not update my address with Apple?

Your 1099-INT will be mailed to the old address on file. Update your address in the Apple Wallet app as soon as possible, then contact Goldman Sachs to request a remail to your new address if you have not received it yet.

Is the interest from Apple Savings Account taxable?

Yes. Interest income is taxable at the federal level and in most states. The 1099-INT documents this income for tax purposes. You report it on your tax return regardless of whether you spent the interest or left it in the account.