Washington Proposes IRS Bank Account Reporting

As a community bank, we care about you, your account, and your privacy with us. We are committed to informing you when legislation is discussed that could directly affect you. A concerning proposal is taking shape in Washington, D.C. If passed, the proposal would require financial institutions like ours to report a broader range of information about your account to the IRS.

The proposal under consideration would require financial institutions, credit unions, and banks to report to the Internal Revenue Service (IRS) how much money has gone into and out of all accounts holding more than $600. Again, we would not have a choice in providing this information to the IRS.

If you want to make your voice heard by policymakers or learn more about this proposal, visit banklocally.org/privacy.

We value your business and privacy and want to ensure you have all the information you need regarding your finances and your money.

We look forward to continuing to serve you and our community.

21st Century Bank  


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