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Form 1099-INT is the IRS information return that banks, businesses, government agencies, and other payers use to report interest they paid during the year.
For tax year 2026, you generally must file one for each person you paid $10 or more in interest, or $2,000 or more for certain interest paid in the course of a trade or business. Recipient copies are due February 1, 2027.
Key takeaways
- The threshold is $10 for most interest. A $2,000 threshold applies only to certain trade-or-business interest, starting with 2026 payments.
- Backup withholding or foreign tax withheld on interest requires a 1099-INT at any amount.
- For tax year 2026, recipient copies are due February 1, 2027; paper filing March 1, 2027; e-filing March 31, 2027.
- Interest is reportable in the year it’s credited or made available, even if the recipient never withdraws it.
- IRIS is the only IRS e-file system for the 2027 filing season, and anyone filing 10 or more information returns must e-file.
Filing 1099-INTs this season? TAB1099 validates your data, prints and mails recipient copies, and e-files through IRIS for you, with no IRIS access or software to set up. Talk to our team to get on the schedule before the January rush.
What Form 1099-INT reports
Form 1099-INT, Interest Income, tells the IRS and the recipient how much interest you paid or credited during the calendar year. The IRS uses the recipient’s TIN to match the amounts you report against their tax return, so an error on your side can become a mismatch notice on theirs.
Interest counts as paid when it’s credited to the recipient or made available to them without real restrictions (IRS instructions). So interest credited to a savings account in December is reportable for that year, even if it never leaves the account.
The main boxes, per the IRS Instructions for Forms 1099-INT and 1099-OID:
| Box | What goes in it |
|---|---|
| Box 1 | Taxable interest not reported in box 3 (bank deposits, credit union share earnings, corporate bonds, notes) |
| Box 2 | Early withdrawal penalty (for example, a forfeited CD penalty); do not reduce box 1 by this amount |
| Box 3 | Interest on U.S. Savings Bonds and Treasury obligations |
| Box 4 | Federal income tax withheld (backup withholding) |
| Boxes 6–7 | Foreign tax paid on interest, and the country or U.S. territory it was paid to |
| Boxes 8–9 | Tax-exempt interest, and the specified private activity bond portion of it |
| Boxes 10–13 | Market discount and bond premium amortization for covered securities |
| Box 14 | CUSIP number for tax-exempt or tax credit bonds |
| Boxes 15–17 | State information (optional for the IRS; used for state filing) |
Form 1099-INT has five copies: Copy A goes to the IRS, Copy B goes to the recipient, Copies 1 and 2 are for state filing where required, and you keep Copy C.
Who must file Form 1099-INT
Any payer that pays reportable interest in the course of its trade or business must file. The IRS’s guide to information returns notes this includes federal, state, and local government agencies, nonprofit organizations, and nominees or middlemen. In practice, that covers:
- Banks, credit unions, and savings institutions paying interest on deposits and share accounts
- Brokerages and bond issuers paying interest on corporate bonds, notes, and Treasury obligations
- Insurance companies paying interest on delayed death benefits or accumulated dividends
- Businesses paying other interest in the course of their trade or business, such as interest on a damages award, and government agencies paying interest on tax refunds
- Trustees and middlemen of widely held fixed investment trusts, REMICs, and CDO issuers
Who you do not file for. Under the IRS instructions and Treasury Regulations section 1.6049-4, you don’t need a 1099-INT for:
- Exempt recipients, such as corporations, tax-exempt organizations, IRAs, HSAs, U.S. and state agencies, and registered securities dealers
- Interest on debt issued by an individual, such as interest one relative pays another on a personal loan
- Interest earned but not paid out inside an IRA
Partnerships, LLCs taxed as partnerships, and sole proprietors are not exempt, so they do get one.
Interest that goes on a different form:
| If you’re paying… | Report it on |
|---|---|
| Exempt-interest dividends from a mutual fund | Form 1099-DIV |
| U.S. bank deposit interest of $10 or more to certain nonresident alien individuals | Form 1042-S |
| Original issue discount (OID) of $10 or more on obligations longer than one year | Form 1099-OID |
| OID on obligations of one year or less, such as a six-month CD | Form 1099-INT, box 1 (Treasury bills go in box 3) |
OID is the amount by which a debt instrument’s redemption price at maturity exceeds its issue price. If an instrument pays both regular interest and OID, you can report both on Form 1099-OID, or put the interest on 1099-INT and the OID on 1099-OID.
Filing thresholds for 2026
The main Form 1099-INT threshold is $10 of interest a year. A higher $2,000 threshold applies only to certain interest paid in the course of a trade or business. The IRS sums it up as “$10 or more ($2,000 or more in some cases)”.
| Situation | File a 1099-INT when the year’s total is… | Legal basis |
|---|---|---|
| Bank, bond, Treasury, or tax-exempt interest (boxes 1, 3, 8) | $10 or more | IRC §6049 |
| Other interest paid in your trade or business, such as interest on a damages award, delayed death benefits, or a tax refund | $2,000 or more (was $600 through 2025) | IRC §6041, as amended by the OBBBA |
| Foreign tax withheld and paid on the interest | Any amount | 1099-INT instructions |
| Backup withholding taken and not refunded | Any amount | IRC §3406 |
Where the $2,000 comes from. Section 70433 of the One Big Beautiful Bill Act raised the general section 6041 reporting threshold from $600 to $2,000 for payments made after December 31, 2025 (Federal Register notice). Most interest is reported under a different section, 6049, where the $10 floor didn’t change. The $2,000 amount will be adjusted for inflation starting in 2027. For how the new thresholds apply to other 1099 forms, see our 1099 reporting thresholds guide.
Watch for outdated instructions. The Instructions for Forms 1099-INT and 1099-OID were last revised in January 2024 and still say $600. Go by Publication 1099 and the IRS guide to information returns, which both show $2,000.
Not sure which rule applies? Use $10. The IRS allows, and encourages, filing for payments below a form’s minimum.
How the rules apply in common cases:
| Scenario (2026 payments) | 1099-INT required? |
|---|---|
| A bank credits $85 of savings interest to an individual | Yes, box 1 |
| A payer credits $8 of interest and backup withholds because the recipient gave no TIN | Yes, boxes 1 and 4 |
| A broker pays $40 of Treasury bill interest to an individual | Yes, box 3 |
| A bank pays $5,000 of interest to a corporation | No, corporations are exempt recipients |
| A business pays $1,200 of interest as part of a damages award | No, below the $2,000 threshold (filing is optional) |
Deadlines for tax year 2026 (filed in 2027)
For tax year 2026, recipient copies are due February 1, 2027, paper returns March 1, and e-filed returns March 31. The first two shift from the standard due dates of January 31 and February 28 because both fall on a Sunday in 2027, and a due date on a weekend or holiday moves to the next business day. For every 1099 and W-2 deadline in one place, see our 2027 tax form deadlines.
| Requirement | Due date |
|---|---|
| Furnish Copy B to recipients | Monday, February 1, 2027 |
| File paper Copy A with Form 1096 | Monday, March 1, 2027 |
| E-file Copy A with the IRS | Wednesday, March 31, 2027 |
Trustees and middlemen of widely held fixed investment trusts get more time for the statement they furnish to trust interest holders: March 15, 2027.
Filing 10 or more returns? You must e-file. If you’ll file 10 or more information returns in a year, you must file all of them electronically. The count covers every form type combined: six 1099-INTs plus four 1099-NECs means you e-file.
IRIS is now the only way to e-file. The older FIRE system won’t accept any submissions in the 2027 filing season, so all information returns go through the IRS’s Information Returns Intake System (IRIS) (Publication 1099). Our FIRE to IRIS transition guide covers the background.
- Filing yourself? You need an IRIS Transmitter Control Code (TCC), which can take up to 45 days to process. Apply now.
- No TCC yet? See your options for filing through IRIS without one, including using a provider such as TAB1099 IRIS E-Filing.
Extensions. Form 8809 gets you an automatic 30 extra days to file with the IRS, if you submit it by the original due date. More time to furnish recipient copies is a separate request, made online or by fax on Form 15397.
Electronic delivery. You can send Copy B electronically instead of on paper, but only if the recipient agrees. Publication 1099 sets three conditions:
- They opt in. Consent must be given electronically, in a way that shows they can open the statement in your format.
- You explain first. Before they consent, tell them they’ll get paper if they don’t opt in, what the consent covers and how long it lasts, how to withdraw it, and how to update their information.
- You post and notify. Post the statement online by February 1, 2027, keep it up through October 15, 2027, and tell them it’s there and how to access and print it.
Common Form 1099-INT errors and how to avoid them
Watch for these eight errors, from TIN mismatches and missed backup withholding to using the wrong threshold. Each can lead to IRS notices or penalties.
- Name/TIN mismatches. These trigger backup withholding (CP2100) notices and penalty notices. To prevent them:
- Collect a signed Form W-9 when the account opens.
- Check names and TINs with the IRS’s free TIN Matching program before you file. Our TIN matching best practices guide walks through the process.
- Keep the W-9. If a TIN the payee certified later proves wrong, it can support a reasonable-cause defense.
- Skipping backup withholding. You must withhold 24% and report it in box 4 when a payee:
- doesn’t give you a TIN,
- doesn’t certify, on an interest-bearing account, that they aren’t subject to backup withholding, or
- has a TIN the IRS says is incorrect, and it isn’t fixed.
Report the year’s total backup withholding on Form 945. - Applying the wrong threshold. The $2,000 figure applies only to certain trade-or-business interest. Use it for ordinary deposit or bond interest and you’ll miss recipients between $10 and $2,000.
- Putting Treasury interest in box 1. Interest on U.S. Savings Bonds and Treasury bills, notes, and bonds belongs in box 3. Recipients need that split because interest on U.S. obligations is exempt from state and local income tax.
- Netting the early withdrawal penalty. Report gross interest in box 1 and the forfeited amount separately in box 2.
- Leaving off the account number. It’s required when one recipient gets more than one 1099-INT, and a correction only matches the original if both carry the same number.
- Breaking recipient-statement rules. Under Publication 1099:
- Copy B must include a phone number that reaches a person who can answer questions.
- The mailing can’t include ads or promotional inserts.
- The envelope needs the legend “Important Tax Return Document Enclosed.”
The last two rules don’t apply to statements for section 6041 trade-or-business interest. - Mixing forms on one Form 1096. Paper filers need a separate Form 1096 for each form type.
Fixing a mistake
File a correction as soon as you find it, because penalties rise the longer an error stands. Under Publication 1099:
- Wrong amount: file one corrected return with the CORRECTED box checked.
- Wrong TIN, wrong name, or wrong form type: file two returns, one that zeroes out the original and one new return with the right information.
- E-filed originals: the corrections must be e-filed too.
For how penalties apply when you correct a form, see Is There a Penalty for Filing a Corrected Form 1099? For how corrections and rejections work in IRIS, see After You E-File Through IRIS.
Want a second set of eyes? With TAB1099, our data analysts review every file before it goes to the IRS, and corrections are included at no extra charge. Contact us to get started.
Penalties for late or incorrect 1099-INTs
The IRS charges a penalty for each information return that’s late or wrong, and a separate penalty for each late or wrong recipient copy. So one bad record can cost you twice. The latest published amounts, for returns due in 2026:
| When the correct return is filed | Penalty per return |
|---|---|
| Up to 30 days late | $60 |
| 31 days late through August 1 | $130 |
| After August 1, or not filed | $340 |
| Intentional disregard | $680, with no maximum |
- 2027 amounts: the IRS hasn’t published them yet, and the figures change most years. Check the IRS information return penalties page before you file.
- Annual caps: maximums are lower for small businesses than for large ones.
- Interest: the IRS charges interest on unpaid penalties.
- Relief: if you have reasonable cause, respond to the penalty notice (Notice 972CG) within 45 days.
Frequently asked questions
Is the 1099-INT threshold $10 or $2,000?
For most interest, including bank, bond, Treasury, and tax-exempt interest, it’s $10. The $2,000 threshold applies only to certain interest paid in the course of a trade or business that falls under section 6041, such as interest paid as part of a damages award.
Do I have to file a 1099-INT for less than $10 of interest?
Not unless you backup withheld or withheld foreign tax on it. The recipient still has to report the interest on their own return.
Do I send a 1099-INT to an LLC?
It depends on how the LLC is taxed (Publication 1099):
- Taxed as a corporation: no, it’s an exempt recipient.
- Taxed as a partnership: yes, under the LLC’s own EIN.
- Single-member LLC disregarded for tax purposes: yes, under the owner’s name and TIN.
Does Form 8809 extend the deadline for recipient copies?
No. Form 8809 extends only the IRS filing deadline. Extra time to furnish recipient copies requires a separate request on Form 15397.
Filing 1099-INTs with TAB1099
Get ready this fall:
- Review 2026 interest payments by type and confirm which threshold applies to each payee.
- Collect missing W-9s and run TIN Matching.
- Apply for an IRIS TCC if you’ll transmit yourself.
Our 1099 FAQs and resources cover more of the details.
TAB1099 has been an IRS-authorized e-file provider since 2005 and files through IRIS under its own TCC. We handle the whole process, from data conversion and validation to printing, mailing, and e-filing, so you don’t need IRIS access or new software. Tab Service Company also undergoes annual SOC 2 Type II audits. Contact us to get your 2026 filing scheduled before the January rush.
This article is for general information and is not tax or legal advice. Consult a tax professional about your specific situation.
Sources
- Instructions for Forms 1099-INT and 1099-OID (IRS)
- Publication 1099 (2026), General Instructions for Certain Information Returns (IRS)
- A guide to information returns (IRS)
- Information return penalties (IRS)
- Increase in Threshold for Requiring Information Reporting With Respect to Certain Payees (Federal Register, April 17, 2026)
- H.R. 1, One Big Beautiful Bill Act (Congress.gov)
