Tax Information
We provide tax documents for activity that requires reporting to the Internal Revenue Service (IRS). Learn more about when you can expect to receive required tax forms, how to access the documents in Online Banking, and answers to frequently asked questions.
When To Expect Your Tax Forms
Form 1099-INT
- Available Online: by January 15
- Sent by Mail: by January 31
Form 1099-INT reports combined interest earned on checking, savings, certificate of deposit accounts, and redeemed U.S. Savings Bonds.
Form 1099-INT is only generated when the combined interest earned for all deposit accounts held by the same tax-reporting owner is $10 or more. For jointly-owned accounts, the tax-reporting owner is the individual named first on the account.
Form 1099-SA
- Available Online: by January 15
- Sent by Mail: by January 31
Reports distributions from a Health Savings Account (HSA).
Form 5498-SA
- Available Online: by May 31
- Sent by Mail: by May 31
Reports contributions to a Health Savings Account (HSA), as well as the account's fair market value as of December 31.
In addition to Form 5498-SA, we also mail a year end health savings plan statement every January which includes the total amount of contributions.
Form 1098
- Available Online: by January 15
- Sent by Mail: by January 31
Form 1098 reports combined interest paid on real estate secured loan types including Mortgage Loan, Home Equity Loan, Home Equity Line of Credit, and Commercial Loan accounts.
Form 1098 is only generated when the interest paid for the calendar year is $600 or more. If you hold multiple loans with us, a Form 1098 will be generated for each loan that meets this criteria.
In addition to Form 1098, we also mail a year end account statement every January which includes the total amount of interest paid on your account.
Form 1099-R
- Available Online: by January 15
- Sent by Mail: by January 31
Reports distributions from Individual Retirement Accounts (IRA), Simplified Employee Pension-IRA (SEP-IRA), and Roth IRA accounts.
Form 5498
- Available Online: by May 31
- Sent by Mail: by May 31
Reports contributions to Individual Retirement Accounts (IRA), Simplified Employee Pension-IRA (SEP-IRA), and Roth IRA accounts, as well as the account's fair market value as of December 31.
In addition to Form 5498, we also mail a year end retirement plan statement every January which includes the total amount of contributions.
Frequently Asked Questions & Answers
Yes, tax forms can be viewed and downloaded in online banking. To locate your tax form, log in, click your name in the upper right, select Service Center, and choose eDocuments. In the Tax Documents section, locate the applicable form and click View Document.
Yes, if reportable activity occurred on your account, you will receive the applicable tax form.
We use your mailing address in our records on December 31. To confirm your current mailing address on file, log into online banking and click your name in the upper right > My Profile > Mailing Address.
Undeliverable tax forms are returned by the USPS to Thomaston Savings Bank. If you did not receive the tax form you were expecting, you can download it in online banking. To locate your tax form, log in, click your name in the upper right, select Service Center, and choose eDocuments. Locate the Tax Documents section and click View Document for the applicable tax form.
No, only account owners can request information or request tax form copies.
Please log into online banking to send us a secure message or call us at 855.344.1874.
