What is a 1099-INT? | Form 1099 INT Instructions

Q: What types of payments must be reported on Form 1099 INT?

Form 1099 INT is used to report interest income from sources such as bank deposit interest, CD or time deposits interest, U.S. Savings bond or Treasury interest, tax exempt interest from municipal bonds and other related payments such as early withdrawal penalties or backup withholding. It is generally required when interest payments meet IRS reporting thresholds.

Q: What are the reporting thresholds for Form 1099 INT?

Form 1099 INT is typically required when interest payments of $10 or more are made to a recipient. It must also be filed in cases where backup withholding or foreign tax withholding applies, regardless of the amount.

Q: Are there situations where a 1099 INT is not required?

Form 1099 INT is not required for certain exempt recipients or excluded types of interest income, such as payments to corporations or tax exempt organizations, or interest that is not subject to reporting under IRS rules. Details can be found here: https://www.irs.gov/forms-pubs/about-form-1099-int

What You Need to Know About Form 1099-INT

Summary

Form 1099-INT is an IRS information return used to report interest income paid to individuals and businesses during the tax year. Typically issued by banks, credit unions, and financial institutions, it is required when $10 or more in interest is paid from sources like savings accounts, bonds, or Treasury securities. The form ensures accurate income reporting for both recipients and the IRS. Businesses must provide copies to recipients by January 31 and e-file with the IRS by March 31 to remain compliant and avoid penalties, with deadlines adjusted for weekends or holidays.

More Details

The 1099-INT is used to report interest income of $10 or more (in boxes 1, 3 and 8) from certain types of accounts, including:

Interest paid on savings accounts
Interest-bearing checking accounts
U.S. Savings Bonds
Interest earned on Treasury bills
Withholding on any foreign tax on interest
Withholding (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment

The 1099-INT also captures other tax items related to interest income, such as early withdrawal penalties, federal income tax withheld and foreign tax paid.

Applicable businesses: Savings and loan associations, mutual savings banks not having capital stock represented by shares, building and loan associations, cooperative banks, homestead associations, credit unions and other financial institutions.

When to file: 1099-INT forms must be mailed to recipients by January 31, and e-filed with the IRS by March 31 each year.

Exceptions do exist. An organization doesn’t need to file form 1099-INT for:

Payments made to exempt recipients, including corporations, brokers, tax-exempt organizations, IRAs, Archer MSAs, Medicare Advantage MSAs, health savings accounts (HSAs), U.S. agencies, states, the District of Columbia, U.S. possessions, registered securities or commodities dealers, nominees or custodians, brokers and notional principal contract (swap) dealers
Excludable interest income, including interest on an obligation issued by an individual, interest on amounts from sources outside the U.S. paid outside the U.S. by a non-U.S. payer or non-U.S. middleman, certain portfolio interest, interest on an obligation issued by an international organization and paid by that organization, and payments made to a foreign beneficial owner or foreign payee

NOTE: When the due date falls on a weekend or legal holiday, the form due date is moved to the next business day.

FAQs

What types of payments must be reported on Form 1099-INT?

Form 1099-INT is used to report interest income from sources such as bank deposit interest, CD or time deposits interest, U.S. Savings bond or Treasury interest, tax exempt interest from municipal bonds and other related payments such as early withdrawal penalties or backup withholding. It is generally required when interest payments meet IRS reporting thresholds.

Who is responsible for filing Form 1099-INT?

Financial institutions and other entities that pay interest income—such as banks, credit unions, and investment firms—are responsible for furnishing Form 1099-INT to recipients and filing it with the IRS.

What are the reporting thresholds for Form 1099-INT?

Form 1099-INT is typically required when interest payments of $10 or more are made to a recipient. It must also be filed in cases where backup withholding or foreign tax withholding applies, regardless of the amount.

What are common compliance risks when filing 1099-INT forms?

Common risks include incorrect reporting of taxable versus tax-exempt interest, failure to capture withholding amounts, and inaccurate recipient information. These issues can lead to IRS mismatches and potential penalties.

Are there situations where a 1099-INT is not required?

Form 1099-INT is not required for certain exempt recipients or excluded types of interest income, such as payments to corporations or tax-exempt organizations, or interest that is not subject to reporting under IRS rules. Details can be found here: https://www.irs.gov/forms-pubs/about-form-1099-int

Updated: 07/28/2026