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Tax Documents

Each year, Royal issues tax documents to our Members. The documents include IRS form 1098, form 1099, and form 5498. These tax documents show things like mortgage interest, earned interest, and IRA contributions.

If you haven’t elected to receive tax documents electronically, we recommend you do so by following the instructions here.  Paper tax documents will be mailed to Members who do not elect to receive them electronically. You can also find your year-to-date interest paid on your December statement.

Access Electronic Tax Statements

To access your electronic tax documents in our consumer online banking system or consumer mobile app, choose the Tax Forms option under the Statements menu item. In business online banking choose the Statements & Info menu option, then select Tax Statements to see a list of viewable tax statements.

To quickly navigate to the Tax Forms area of consumer online banking or our mobile app, please use this link: Link To Tax Forms. If you're not already logged in, you'll need to do so.

More Information About Tax Documents

  • If you earned less than $10 in interest on your accounts in a year you will not receive an interest reporting tax statement for that tax year.
  • Tax statements are reported by tax ID or social security number. For joint owners, tax statements are only available under the primary owner's tax ID/social security number in online banking.
  • IRS forms 1098 and 1099 will be available by January 31 each year.
  • IRS form 5498 will be available by May 31 each year.

If you can claim your vehicle loan interest for business tax purposes, please refer to your December statement for the year-to-date interest paid.

2022 Tax Form Information For Acquired Lake Area Bank Accounts

  • Because Royal Credit Union acquired former Lake Area Bank accounts during the 2022 tax year, acquired account holders will likely be receiving two separate year-end tax forms. 
  • One tax form from Royal Credit Union will cover the period of time that your account was a Royal account. 
  • The other tax form from First Resource Bank (formerly Lake Area Bank) will cover the period of time that your account was a Lake Area Bank account. Lake Area Bank was acquired by First Resource Bank, so your tax form for this time period will be issued by First Resource Bank.

Find A Routing Or Account Number

In order to have a tax refund direct deposited into your Royal account, you'll need our routing number and your account number. Our routing number is 291880411. To find your account number, please refer to the information here.

Related: 7 Smart Ways To Use Your Tax Refund


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