What is the best bank for self-employed people in 2026?

Kronos. It is built for self-employed and 1099 workers rather than W-2 employees. On the Black plan it files your 1099-K and 1099-NEC for you, sends quarterly estimated-tax reminders on the IRS schedule (April 15, June 15, September 15, January 15), auto-sets-aside a configurable percentage of each deposit into a separate tax bucket, and runs an AI Accountant that scans your transactions for deductible business expenses. It also will not freeze your account for irregular self-employment income the way W-2-oriented banks do.

Does Kronos file my 1099 taxes?

On the Black plan, yes — Kronos files your 1099-K and 1099-NEC. All plans get quarterly estimated-tax reminders, an auto tax set-aside bucket, and an AI Accountant that surfaces deductions. Kronos is not a substitute for a CPA on a complex return, but for a typical 1099 or single-member-LLC filer it handles the core forms and estimates.

Can I open a bank account if I am self-employed with no W-2?

Yes. Kronos verifies identity through Plaid Identity Verification and does not require a W-2, pay stub, or employer. You can open an account on self-employment, 1099, freelance, or gig income. There is no credit check to open.

How does Kronos help self-employed people with quarterly taxes?

Every deposit can trigger an automatic set-aside (default 22%) into a separate Tax bucket so the money is there when estimates are due. Kronos then reminds you before each IRS quarterly deadline and shows your estimated payment based on year-to-date income. The AI Accountant lowers that estimate by finding deductions you would otherwise miss.

Does Kronos support SEP-IRA contributions for the self-employed?

Kronos shows a SEP-IRA suggestion based on your year-to-date self-employment income so you know roughly how much you can contribute tax-deferred this year. It is guidance, not a brokerage account — you make the contribution at your IRA provider, but Kronos tells you the number.

The bank account built for self-employed & 1099 workers

Every other bank was built around a W-2 paycheck. Kronos is built around 1099 income — it files your 1099-K and 1099-NEC, reminds you before every quarterly deadline, sets your taxes aside automatically, and runs an AI Accountant that finds the deductions you keep missing.

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Why self-employed people get failed by normal banks

If you are self-employed — a freelancer, an independent contractor, a single-member LLC, a 1099 worker, a creator, a consultant, a gig driver — you already know the problem. The entire consumer-banking industry was designed for someone who is not you: a W-2 employee whose employer withholds taxes, deposits one predictable paycheck on the 1st and the 15th, and files a single clean tax form once a year.

You are the opposite of that on every axis, and it costs you real money:

Nobody withholds your taxes. The IRS still expects them — quarterly, not annually. Miss an estimate and you owe penalties on top of the bill. Most self-employed people discover this the hard way in April.
Your deductions are invisible. Mileage, home office, software, equipment, a portion of your phone bill — the deductions that legally cut a self-employed tax bill in half are scattered across hundreds of transactions nobody is tracking.
Your forms are on you. 1099-NEC from every client, 1099-K from every platform, a Schedule C to assemble. Salaried people get one W-2. You get a shoebox.
Your income looks "suspicious." Irregular deposits from multiple sources is exactly the pattern a W-2-trained risk model flags. Self-employed people get accounts frozen and closed for simply earning the way they earn.

Kronos was built to fix all four — not as add-ons, but as the core of the product.

The real tax suite — the part that actually separates Kronos

This is not "export a CSV and good luck." Kronos runs an actual tax workflow built for 1099 income:

1099 filing (Black plan). Kronos files your 1099-K and 1099-NEC for you. The forms that pile up from every platform and client get handled instead of dumped on you in April.
Quarterly tax reminders. Kronos tracks the IRS estimated-tax calendar — April 15, June 15, September 15, January 15 — and reminds you before each one, with the estimated amount based on your year-to-date income. No more accidental underpayment penalties.
Auto tax set-aside. Every detected income deposit moves a configurable percentage (default 22%) into a separate Tax bucket. It is still your money — Kronos never touches it — but it is sequestered so the quarterly bill is already funded when it lands.
AI Accountant that finds deductions. It scans your transactions and surfaces deductible business expenses you would otherwise miss — software subscriptions, equipment, mileage, supplies, a portion of your phone and internet. Every deduction it finds lowers the estimate you actually owe.
SEP-IRA suggester. Based on your year-to-date self-employment income, Kronos tells you how much you can contribute tax-deferred this year — a lever most self-employed people never use because nobody told them the number.

For a typical full-time 1099 worker, the missed-deduction gap alone is several thousand dollars a year. The tax suite is the difference between an April surprise and an April non-event.

Plus everything a bank should already do

No account freezes on irregular income. Multi-client, multi-platform, lumpy deposits — that is the expected pattern, not a red flag. Kronos's risk model is built for how self-employed people actually get paid. More on why banks freeze accounts →
No credit check to open. Identity verification only, via Plaid. No bureau pull — not to open, not for anything.
2.5% APY savings on Pro on the full balance, FDIC pass-through via partner banks.
0% crypto fees. Buy, sell, convert, and send 30+ coins with no platform fee and no spread on Pro, settling to a non-custodial wallet only you control.
Income proof letter on demand. Renting an apartment or applying for a loan on 1099 income? Kronos generates a verified income letter that landlords and lenders accept.
Multi-platform earnings sync for gig drivers — one income view across Uber, DoorDash, Lyft, Instacart, GrubHub, Amazon Flex, Shipt, and Spark, with a built-in mileage logger at the 2026 IRS rate ($0.67/mile).

Kronos vs the "business banking" apps

The apps that target the self-employed are mostly business-checking products with a monthly fee. Kronos is a full consumer bank — checking, savings, crypto, cashback — plus the 1099 tax suite, with a free tier.

Feature	Kronos	Found	Lili	Novo	Chime
Files 1099-K / 1099-NEC for you	Yes (Black)	No	No	No	No
Quarterly estimated-tax reminders	Yes	Yes	Yes	No	No
Auto tax set-aside per deposit	Yes — configurable %	Yes	Yes	No	No
AI deduction finder	Yes	No	No	No	No
Personal + business in one account	Yes	Business only	Business only	Business only	Personal only
Crypto (30+ coins, non-custodial)	Yes	No	No	No	No
Freeze risk on irregular income	Targeted only	Medium	Medium	Medium	High (CFPB)
Cost	Free / $9.99 Pro / Black	$19.99/mo Plus	$9 / $35 / $55	Free	Free

Competitor features as publicly described on their sites at time of writing; tax-suite depth varies by plan.

Common questions

I'm a freelancer, not a gig driver — is this still for me?

Yes. The tax suite, AI Accountant, quarterly reminders, income proof letter, and SEP-IRA suggester all work on invoiced ACH income exactly the same way. Designers, developers, writers, consultants, photographers — see the freelancer page.

Does the 1099 filing cost extra?

1099-K / 1099-NEC filing is part of the Kronos Black plan. Quarterly reminders, the auto tax set-aside bucket, and the AI Accountant deduction finder are available more broadly. See pricing for current plan details.

Can I open an account with self-employment income and no W-2?

Yes — no W-2, pay stub, or employer required, and no credit check. Identity verification is via Plaid. If you have an ITIN instead of an SSN, see banking with an ITIN.

Will Kronos replace my accountant?

For a straightforward 1099 or single-member-LLC return, the tax suite handles the core forms, estimates, and deductions. For a complex return — multiple entities, payroll, unusual credits — keep your CPA; Kronos hands them a clean, categorized starting point instead of a shoebox.

Is my money FDIC-insured?

USD balances are held through FDIC-insured partner banks via our banking partner, with pass-through coverage up to standard FDIC limits. Crypto is non-custodial and never FDIC-insured at any provider.

About Kronos

KronosPay Inc. is a Delaware C-Corporation founded in 2026 by Sultan Mogaji to build the bank for the self-employed — the 73 million Americans on 1099 income whom every other neobank treated as an edge case.

Compliance: DUNS 144991867 · FinCEN BSA MSB Tracking Number MRX26-00003995 · KYC via Plaid Identity Verification · cash deposits FDIC pass-through via partner banks (Lead Bank) through our banking partner.

Press: AP News, NASDAQ, NBC, FOX, KRON 4 SF, NBC Columbus, National Law Review.

Bank the way you actually earn

1099 filing, quarterly reminders, auto tax set-aside, and an AI Accountant — built for the self-employed.