Our third-party service provider, who generates and completes the information contained in the 1099 and 1098 tax form documents, as well as mails these forms to you, has identified that the information contained in the 2020 1099 and 1098 tax forms may be inaccurate.
The incorrect 1099 and 1098 tax documents were mailed on January 26, 2021.
It is also possible that the 1099 and/or 1098 forms you received may contain information from both the 2019 and 2020 tax years. This information may appear on separate forms or co-mingled on the same or multiple forms.
For this reason, we would ask you to please dispose of the 1099 and 1098 forms that were mailed out to you on January 26, 2021.
We are currently correcting the forms and will be mailing out replacement forms as soon as possible.
We apologize for any misunderstanding and inconvenience this error may have caused you and be assured that none of this information has been reported to the IRS. The 1099 and 1098 tax forms that are provided to you are for your information and tax filing preparation purposes.
Herring Bank does not send final 1099 and 1098 tax form information to the IRS until March 31, 2021. It is a top priority to get this issue resolved and provide accurate information to you.
We expect to have this issue remediated as soon as possible.
Again, we apologize for any issue(s) or inconvenience this error may have caused you. Providing you a quality banking experience is critical to us. Thank you for your patience and understanding in this unfortunate situation.