Robinhood Cash Rewards
Check your email to see if you're among the customers who are eligible for this promotion. If your account is eligible for a deposit match cash reward, we’ll match 5% of your next deposit for a reward of up to $150. The deadline to deposit for this reward is February 19, 2021. The reward will automatically appear in your account balance once your deposit clears.
The maximum cash reward is $150. For example: a $3,000 deposit earns $150.
The cash value of the reward may not be withdrawn for 60 days after the deposit match is awarded.
The funds you receive through the deposit match program will be reported as miscellaneous income in your 1099-MISC form. Because of IRS minimum earnings requirements, you may not receive a 1099-MISC form if your deposit-matched funds and any other funds (i.e. stock reward funds) are valued at less than $600.
As with all tax forms, you’ll be able to download a consolidated 1099 form (which includes the 1099-MISC) starting in mid-February of every year. If you have questions about your specific tax situation, we recommend speaking with a tax professional.
Robinhood Financial LLC (Robinhood) cash reward offer valid only for qualifying customers who Robinhood emails the promotion to, who successfully fund their account within the time period outlined in their promotion, and maintain their funds in their Robinhood account for 60 days, though Robinhood may allow a shorter period in Robinhood’s sole discretion. Customers who do not meet these conditions are ineligible for this offer. Please note that this promotion is limited to customers who Robinhood specifically emails concerning this promotion, and is not available to the general public. Rewards will be credited only if the Robinhood account is successfully funded and the reward is claimed through the Robinhood platform. Limit one offer per qualified funding of the account, with a maximum of one account per customer. Cash reward will be credited to the enrolled account shortly after the reward is claimed, though unclaimed rewards may expire after 30 days. The cash value of the cash reward may not be withdrawn for 60 days after the cash reward is claimed. The cash reward may be delayed, declined, or rescinded in Robinhood’s sole discretion if, for example, Robinhood determines that there may be circumstances indicating fraud or a violation of these Terms. If the customer closes their Robinhood account within 60 days of receiving the cash reward, Robinhood reserves the right to rescind the cash reward. For the sake of clarity, a debit card transaction from a customer’s brokerage account is considered a withdrawal for the purposes of these Terms. Withdrawals also include, but are not limited to, originated and non-originated ACH, and ACAT. However, a withdrawal shall not include the purchase of an investment option, such as a stock or ETF, on Robinhood’s or Robinhood’s affiliates’ platforms.
Robinhood reserves the right to change or restrict the offer terms, or terminate the offer, at any time without notice. This offer is valid even if other Robinhood offers have already been accepted. The offer is not transferable, saleable, or valid in conjunction with certain other offers, and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Robinhood or a Robinhood affiliate; members of their household; employees of Citadel Securities, Two Sigma Securities, Virtu Financial, G1 Execution Services LLC, Wolverine Execution Services, LLC, and Morgan Stanley & Co. LLC, and their affiliates; and employees of any securities regulatory organization or exchange are not eligible. Robinhood may decline requests to enroll in the offer at its discretion. Other restrictions may apply.
The deposit reward is 5% of the dollar amount of the customer’s next cash deposit up to $150 in rewards, rounded down to the nearest cent. This means that if the customer deposits $1000, the reward will be $50. Subsequent deposits after the initial deposit will have no effect on the cash reward. For the sake of clarity, the maximum total rewards from this promotion for any customer is $150.
Participation in this program does not constitute a solicitation of a security or a recommendation to buy, sell, or hold any given security. Robinhood does not provide investment advice and does not hereby recommend any security or transaction. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business.
Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of a cash reward before enrolling. For taxable accounts, the value of all Robinhood offers received may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Robinhood does not take responsibility for any tax related to this cash reward.
Securities trading offered through Robinhood Financial LLC, a registered broker-dealer and Member SIPC, and a subsidiary of Robinhood Markets, Inc.