Update 10/7/21: Looks like many more people got paid yesterday. Hopefully everyone got paid at this point.
Update 9/13/21: Looks like more people will finally get this bonus:
In June 2021, we ran a limited-time promotion that enhanced our standard referral program and featured a bonus payout to both the referrer and the referee at a promotional rate. Unfortunately, this new program caused confusion among some of our existing and new members about the terms and conditions of the program. Therefore we have decided to pay new members and their qualified referrals at the promotional rate that was offered in June of 2021.
We are currently reviewing your account to ensure that any eligible bonus is paid out at the promotional rate within the next 30 business days. In the meantime, you can review the terms and conditions for qualified referrals here.
Thank you for your continued patience.
Best,
The Yieldstreet Team
Update 7/27/21: Lots of readers in the comments report getting their signup/referral bonuses today. Seems most got $200 for some or all of the referrals, but most did not get the $200 for signing up (either getting nothing or just $100). Bit of a mess in terms of figuring out what was paid out and what wasn’t.
Update 7/16/21: Another email went out today telling some people to expect only $100. Seems some will get $100 and some will get $200, but I have no idea at this point. Also not sure whether they are giving out the $100/$200 only for new member or only for referrer or both.
Update 7/9/21: Another email went out today indicating they will pay out the $200 for each referral, both for signing up and for referring others, I believe. Not sure if everyone got it, possible they found some more meritorious than others or that they are still reviewing each account. (ht reader Evilex)
Update 7/8/21: New email from YieldStreet which no one is sure what they mean, see below. Not clear if they are saying they’ll be paying out $200 for new member but just $100 for referrer, or $200 for new member and nothing for referrer, or something else.
They did have in their original terms that referrals were only for friends (which is why we chose not to open a DoC referral thread), though it’s difficult to determine what qualifies as a ‘friend’, e.g. someone you know from Reddit should qualify, as I see it. Also, even those who referred real friends/family are getting the same email – they don’t have a way of knowing who referred an actual friend and who referred a stranger.
Thank you for your interest and participation in Yieldstreet’s standard Referral Program. We wanted to reach out to you to let you know that your account is eligible to receive a referral bonus from our standard Referral Program, which pays $100 for each eligible referee, up to the first 20 invitations.
In June, we also ran a separate promotional program which you were ineligible for. As stated in the terms and conditions, invites were only intended for people you know personally and we believe you (or the person who referred you) made improper use of this program.
You can expect to receive a payment in the coming weeks. Thank you for your support and understanding, and we look forward to having you as an investor in the future.
Best,
The Yieldstreet Team
Update 6/11/21: Reader John sent in a screenshot of the old terms (full screenshot | closeup screenshot | current terms) which did not have the 30 day requirement. Hopefully they honor the old terms for those who signed up before the change. Change happened on June 10th in the afternoon, from what I understand.
Update 6/10/21: Readers noticed today in the terms that in order to be eligible for a referrer bonus you need to have been on the YieldStreet platform for 30 days or you need to be an actual investor which requires at least $1,000 minimum investment. (It’s possible these terms will impede the new member from getting their bonus as well if they used a referral link from someone who was on the platform for less than 30 days.) My guess is that these are terms which were added today and were not there prior, but I don’t have any saved screenshots and can’t say with certainty. Unclear how this will play out.
You must be a Qualifying Member to be eligible to receive cash compensation in accordance with the Program. Subject to the limitations herein, a “Qualifying Member” is a member (i) with an individual Yieldstreet account (A) that has completed all know-your-customer, confirmation of identity and two-factor authentication requirements as may be requested by Yieldstreet in its sole discretion (B) that has successfully linked to an external bank account and (C) has met all of the foregoing requirements in items (A)-(B) for at least 30 continuous calendar days prior to any referral or (ii) that is a past or current investor on the Yieldstreet website.
The Offer
- YieldStreet offers $200 for simply opening an account through a referral link. No deposit required.
- The referrer also gets $200.
The Fine Print
- Subject to the limitations herein, a “Qualifying New Account” is a new individual Yieldstreet account (i) opened by your Invitee using the special designated link from your invitation, (ii) that has completed all know-your-customer, confirmation of identity and two-factor authentication requirements as may be requested by Yieldstreet in its sole discretion, (iii) that has successfully linked to an external bank account and (iv) has met all of the foregoing requirements in items (i)-(iii) within 30 days of the applicable Invitee’s receipt of the invitation. Yieldstreet is not responsible for incorrect entry or other failure on the part of your Invitees to meet the standards of a Qualifying New Account.
- Referrer Bonus: The terms state a limit on the referrer of 20 referrals per quarter, or $4,000 per quarter. However, some are getting an email stating they have lifted the referrer cap.
Our Verdict
YieldStreet is an alternative investments platform. You don’t need to deposit any funds to be eligible for the $200 bonus, just signing up (with identity confirmation/2-factor) and linking an external bank triggers the $200 bonus for you and $200 for your friend who refers you. So long as you are comfortable giving your info and linking a bank, this can be a really sweet deal, especially if you have a friend who will gain from it as well as the referrer.
There’s a separate alternative deal for signing up and depositing $10,000 to get a $500 bonus.
At this time we do not have a thread for referring to Yieldstreet since the terms stipulate that you only refer friends. Do not offer or solicit a referral in the comments. You can try googling to find a referral link or see the comments of this post for various options of how to find a referral.
Hat tips to readers JL and Adam
Do not offer or solicit a referral in the comments.
Has anyone gotten their referral bonuses recently from Yieldstreet for the few most recent quarters? I haven’t received anything.
Anybody get this and considering doing it. Not sure if you can just buy and sell immediately and collect bonus:
The Growth & Income REIT is designed to provide investors with exposure to a variety of private commercial real estate investments across key U.S. markets, property types and investment types. The Fund’s primary investment objective is capital appreciation and, as a secondary objective, current income.
Through Thursday March 24th,
Receive $150 if you invest $5K in the Fund
Receive $300 if you invest $10K in the Fund
Just read this. I guess you can’t sell right away so too much risk, unless I’m not understanding:
Liquidity
How do I access my funds?
The Fund intends to offer investors liquidity events beginning in year 2, whereby investors may be able to redeem at least a portion of their investment on a quarterly basis. Please note that a liquidity event may not occur within the projected timeframe or at all. Please see the Offering Circular for more details.
I clicked the link on that email that leads to info page on the Growth & Income REIT.
If you scroll down, you can see that they have 1.5% management fee + 0.5% operating expenses.
As for liquidity:
“The Fund intends to offer investors liquidity events beginning in year 2, whereby investors may be able to redeem at least a portion of their investment on a quarterly basis. Please note that a liquidity event may not occur within the projected timeframe or at all. Please see the Offering Circular for more details.”
To me, this sounds like you can’t withdraw whenever you want. The bonus is tempting, but risk of investing in property + not being able to withdraw whenever you want is definitely present. I would like to see what others think about this.
Late, but the “bonus” is entirely offset by the management fee: 1.5% x 2 years x $10k = $300
Ignore these offers unless they improve significantly
Joe AllenW Betelgeuse ㊙️ Elliot
Getting tired of waiting for yieldstreet to tell me which EIN is correct. Does it really matter which one is entered? Turbotax just requires a valid numeric EIN entered and both EINs are connected to yieldstreet. There is no way to know which one is more correct.
For those that have already entered the EIN for this 1099-MISC, which one did you go with? 831006415 or 472003394?
Thanks!
831006415 – matches the address on the 1099. If I dont get an answer by then that’s what I’m going to use.
I got a reply back stating to us 47-2003394. Go figure… So Now I will use 47-2003394.
Yieldstreet finally emailed back. Just like Elliot, even after explaining the address discrepancy, they still gave me the 47-2003394 EIN as the one to use. I am going with that and save the email from them. This company is really sloppy.
P2 who did receive the $200, can login but the account said its not verified… and there isn’t any 1099’s…. So I suppose nothing for under $600….. Nothing came mailed.
P1 did receive 1099 Download only but also did the $500 Bonus and is an active Prism investor. Which makes sense why P1 Got it.
so was the total amount on the 1099 for P1 over $600 and thats why they issued a form, or it was only for $500?
Yea over 600 due to the referral and bonus combined. thats why I got it.
Does anyone Know or have the FEIN for Yieldstreet, Mine says Unknown and TT doesnt like that.
See some of the comments below. As usual, Yieldstreet is incompetent. No EIN provided. The address matches one EIN below and the name matches another EIN below. Both have Yieldstreet in the name. I’ve explained this to them and I’m waiting for their reply on which one to use. No word back yet.
I also have an email in with Ashli who assisted with the whole referral issue many have had. But definitely keep us posted.
I only got $200 from this promo in 2021. Can’t login to my Yieldstreet online account since I closed it a couple months ago. Did anybody who made <$600 get a 1099 tax form either online or in the mail from Yieldstreet? Just curious if I can still expect them to mail me one or not
By the way, they put out 1099s through their “Tax Center” today.
They don’t list EIN on the document, so here it is 472003394.
Where is tax center? I can’t find it.
https://www.yieldstreet.com/portfolio/tax-center/user
How’d you verify the EIN?
you can just google the EIN to verify it
Do we need the ein? We don’t need to attach the 1099 to our tax return since no tax was withheld.
address for that EIN doesn’t match 1099-MISC issued though
Don’t see any tax document yet.
Maybe not for those who earned <$600.
I did not see any tax forms there.
I found this EIN that matches the yieldstreet address on the 1099-Misc. I’m going to go with that one since it matches the address on the 1099-Misc.
831006415 – YIELDSTREET FOUNDATION CORP
Business Address:
300 PARK AVE 15TH FL
NEW YORK, NY
10022
Thanks for posting their EIN @Joe!
This total hack of a financial company left “Unknown” in their Payer’s TIN/EIN field. A bunch of different sites suggests that if this happens to report the 1099 with 0’s in the TIN/EIN on your tax return and let the IRS contact you for an explanation, but getting purposely flagged by the IRS seems like a very bad idea.
Elliot Yeah, it’s pretty ridiculous that they filed it without an EIN. I found this EIN that matches the address on the 1099-MISC from Yieldstreet:
831006415 – YIELDSTREET FOUNDATION CORP
Business Address:
300 PARK AVE 15TH FL
NEW YORK, NY
10022
Joe The EIN you gave has an address that doesn’t match. I found this one that does match on address. I think I am going with the one below.
831006415 – YIELDSTREET FOUNDATION CORP
Business Address:
300 PARK AVE 15TH FL
NEW YORK, NY
10022
That’s weird because their support replied to me with the TIN 47-2003394 in response to an earlier question that I sent them about this right around the time that I saw Joe’s post about their EIN. I’m inclined to use the TIN that support sent me because there is an email that I can point to in case I have problems, but I’m not sure whether the IRS expects an EIN or TIN with a 1099-MISC or if it matters at all?
Thanks for the info. Yeah, I just emailed support at [email protected] to explain in detail the discrepancy between the address and name on the 1099-MISC form and the two possible EINs. I guess I’ll wait to see what they say before I decide which EIN to use.
So lame…..almost like they are punishing us on purpose for taking advantage of their ill advised promotion.
Yes, and if I didn’t know better I could swear they purposely bumped my bonus up 200 more several months after receiving 400 to force me to file a 1099.
I think that’s because initially they refused to give $200 for opening the new account, only the $200 for each referral was paid at first. After lots of complaints around this, they changed their tune eventually. So I got $600 and then an extra $200 later for my account opening.
I just got invited to Yieldstreet by my friend and used his referral link which took me to a page that said both the referrer and the referee will get $100 each. So I signed up and wrote the support to ask if I’m set to receive my bonus. Their reply was “Unfortunately you do not receive a bonus. The friend who invited you will receive 100 if your account is fully set up and ready to invest.” I would not feel safe at all investing with a company with such low integrity.
Ashli emailed me to ask that I remove my 1 star review on Google. I’m severely tempted to email back that it’s under review…
I had 2 back’n’forth with her last week confirming my 6/10 referral, and still no credit. I’ll update you should this be remedied; doesn’t look good for her review
Let her know a review will be completed and that all eligible reviews will be concluded within the next 30-60 days.
Player 1:
10JUN – Applied via web page w/$500 offer f/D$10k+Qualified Customer reqs (inv $1k)
– Referred P2 w/$200 offer f/ea referral
15JUN – Ally Tx $10k
22JUN – Invest $1k
27JUL – $500 investment bonus posted
27JUL – $100 referral bonus posted (vs expected $200; not gonna fight)
12AUG – Withdraw $9k + bonus ($1k stuck until 32m maturity)
(28FEB24 – Close)
Player 2:
10JUN – Applied via P1 referral f/$200 offer f/Open via referral
8SEP – Close
*Did not get bonus; suspect P2 did not meet “customer for 30-days” requirement before being referred; all other “Qualifying Member” reqs met
5OCT21 – Randomly received $100 (second half of incomplete $200 referral bonus?)
Still didn’t get paid the $200 I’m owed and no response to my email.