Does Hyperliquid send a 1099?

Updated October 2026 · 5 min read · Not tax advice

Short answer: no

Hyperliquid is a decentralized, non-custodial exchange with no KYC onboarding. It does not collect your legal name, tax ID, or country of residence, and it does not issue Form 1099-DA, 1099-B, or any other information return. Nothing arrives in your email in January.

No form does not mean no tax

Two separate things are often confused: information reporting (what a platform sends) and tax liability (what you owe). In the US, the IRS treats digital assets as property, and every taxable disposal — including crypto-to-crypto perp closes — is reportable whether or not any form was issued. The Form 1040 digital-asset question must be answered honestly based on your own activity.

What changed with 1099-DA (and why it doesn't include Hyperliquid)

Starting with the 2025 tax year, US brokers must report digital-asset proceeds on the new Form 1099-DA. That obligation applies to brokers — custodial exchanges like Coinbase. A decentralized exchange that never takes custody and performs no KYC is not in the 1099 pipeline, so self-custody perp trading on Hyperliquid remains invisible to the reporting system. You are the only party holding the records.

How to report Hyperliquid activity without a form

1. Export and total your activity — realized PnL, fees, and funding per tax year.
2. Decide the classification with a professional (capital gains vs. other treatment — see the pillar guide).
3. Self-report on Form 8949 / Schedule D under capital treatment, or under the framework your CPA selects.
4. Keep the underlying exports with your return — with no broker form, your records are the only evidence.

Common questions

Does Hyperliquid report to the IRS or other tax authorities?

Hyperliquid collects no identity information, so there is nothing to report about you specifically. Blockchain activity itself is public — anyone, including authorities, can read it pseudonymously.

What if I only lost money?

Losses are generally still reportable and often valuable — they can offset other gains. Skipping filing because you lost money usually wastes the loss.

I only traded small amounts. Do I still need to report?

Reporting obligations generally attach to taxable dispositions regardless of size, not to whether a form arrived. Ask a professional about your specific situation.