Not everyone will receive tax forms posted to their account for every year. The following are two of the primary reasons you would not receive tax forms for the 2016 tax year:
1. Based on the activity in your Account
You will not receive a 2016 Consolidated 1099 Package from Lending Club if the following is true for 2016:
- You received less than $10 in net interest payments on your total portfolio; and
- You received less than $600 in incentive, bonus, or other miscellaneous payments from Lending Club; and
- You did not hold Notes corresponding to loans that were charged-off in 2016 or did not receive recoveries and/or net proceeds on Notes which corresponded to charged-off loans or transfers; and
- You did not sell Notes on the Folio Investing* Note Trading Platform
2. Based on your account type
You will not receive a 2016 Consolidated 1099 Package from Lending Club if your account is:
- Tax-deferred (e.g., an IRA); or
- Registered as a C corporation; or
- Registered as a tax-exempt organization; or
- Another type of entity for which Lending Club is not required to provide tax information.
If you believe you should have received 1099 forms for the 2016 tax year based on the information above, please contact us at firstname.lastname@example.org.
* Folio Investments, Inc. (“Folio Investing”) is a registered broker-dealer and member of FINRA and SIPC and operates the Note Trading Platform. Folio Investing is based in McLean, VA and is not affiliated with Lending Club. Folio Investing has no role in the original issuance of the Notes and is not responsible for and does not approve, endorse, review, recommend or guarantee the Notes or the accuracy, reliability, or completeness of any data or information about the Notes. More information about Folio Investing is available at www.folioinvesting.com.