Not all investors will receive a tax form. The activity on an account will have to meet a certain threshold set by the IRS.
You may not receive a tax form, 1099-DIV, or 1099-INT if an account earned less than $10.00 in income for the calendar year.
You may receive a tax form if there is any amount of backup withholding or foreign taxes paid on accounts. In this instance, a form may be issued for less than $10 in income.
You may receive tax form, 1042-S, if the US-sourced dividends/interest round up to $1 or more
Example: Apple dividend for $0.51 cents would round up to $1 of reportable 1042-S income
*DriveWealth does not provide tax or accounting advice. Please consult a tax and/or accounting professional accordingly.*