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Every shareholder, with certain exceptions defined by the Internal Revenue Code, who has received $10 or more in taxable interest income, is issued a Form 1099-INT. Form 1099-INT is also sent to account holders for whom backup withholding was taken on certain reportable transactions.
Form 1099-INT is provided by institutions that pay interest income, such as banks and other savings institutions, and summarizes your interest income for the year. If your account is invested in the Domini Deposit Account at PNC Bank, and your account received interest income of $10 or more during the year, you will be issued a Form 1099-INT
If you have one of the following types of accounts, you will not receive Form 1099-INT:
Individual Retirement Accounts and other tax-deferred accounts (including Roth and Traditional IRAs, Rollover IRAs, SEP and SIMPLE IRAs, Coverdell Education Savings Accounts and qualified tuition plan accounts)
Accounts owned by corporations, certified nonresident aliens and certain tax-exempt organizations
The interest income shown on Form 1099-INT is provided for reporting on your 2012 federal income tax return, even if you reinvested your income in the Domini Deposit Account at PNC Bank.
The information on your Form 1099-INT is reported to the IRS.
Please consult a professional advisor as necessary for guidance on reporting the information from Form 1099-INT on your tax return, and for tax, legal and investment advice.
This information is intended for general informational purposes only. It is not meant to be a substitute for professional tax advice. Please consult a professional advisor to determine your individual tax situation and for tax, legal, and investment advice. The information set forth above concerns only federal income tax, not state or local income tax, except where specifically noted.
Please refer to the Instructions for Recipients on the back of your income tax forms. Please also refer to IRS Publication 564, Mutual Fund Distributions, and IRS Publication 590, Individual Retirement Arrangements (IRAs) available at www.irs.gov or by calling the IRS at 1-800-TAX-FORM (1-800-829-3676).
The Domini Deposit Account at PNC Bank is a NOW Account. Please note that you will be able to access your funds in the Domini Deposit Account at PNC Bank only through Domini Social Investments. Domini Social Investments will act as your agent for the purpose of making deposits to and withdrawals from the Domini Deposit Account at PNC Bank and will maintain the records of your account. You will not be able to access your funds in the Domini Deposit Account at PNC Bank or obtain balance information by contacting PNC Bank directly. Your deposits in the Domini Deposit Account at PNC Bank are subject to FDIC insurance limits of $250,000 per depositor.
The Domini Deposit Account is made available through an arrangement with PNC Bank, National Association, member FDIC. Domini Social Investments LLC and the mutual funds offered through Domini are not affiliated with any bank and are not FDIC insured. Domini Social Investments LLC retains the right to replace PNC Bank with another FDIC member institution at its discretion. Prompt notice regarding such change will be provided.