Government forms

Form 1099-INT: Interest Income

Banks, brokers and other payers report interest paid to you during the year on Form 1099-INT. You use it to report interest income on your tax return.

Rev. January 2024

Source: Internal Revenue Service (IRS)

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Instructions for filling out Form 1099-INT: Interest Income

This template is used for official filing and documentation. Below are detailed instructions for completing, requirement details, and submission rules.

Who needs to fill out this document?

This form is designed for use by legal entities, individuals, or authorized representatives in the following cases:

Banks, credit unions and businesses paying interest.
Account holders reporting interest on their return.
Bookkeepers preparing year-end information returns.

What you will need before starting

Before filling out the interactive form, prepare the following details and documents:

1. Payer and recipient detailsNames, addresses and TINs.

2. Interest amountsInterest income, early withdrawal penalties and U.S. savings bond interest.

3. Tax-exempt interestMunicipal bond interest and private activity bond interest.

4. WithholdingBackup withholding and foreign tax paid, if any.

Step-by-step filling process

Enter payer and recipient: Names, addresses and TINs from Form W-9.
Report interest: Box 1 for taxable interest; box 3 for U.S. Treasury interest; box 8 for tax-exempt.
Add penalties and withholding: Early withdrawal penalty, federal and state withholding.
Furnish and file: Recipient copy by January 31; IRS copy by February 28 on paper or March 31 electronically.

Frequently Asked Questions (FAQ)

When must a 1099-INT be issued?

Generally when interest paid is $10 or more, or $600 or more for interest paid in the course of a trade or business.

I didn't get a 1099-INT. Do I still report the interest?

Yes. All taxable interest must be reported even without a form.

Can I file Copy A printed from this PDF?

No. Copy A sent to the IRS (or SSA) must be the official red-ink scannable version or filed electronically. Printable copies are fine for recipients and your records. Businesses filing 10 or more information returns in a year must e-file.

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