Takeaways
- Form 1099-INT is an IRS document sent to taxpayers who received interest payments.
- You must earn more than $10 in interest from an entity to receive a Form 1099-INT.
- Form 1099-INTs must be sent by January 31 for the prior year’s interest income.
- You can upload 1099-INTs to online tax software programs to file your taxes.
- Form 1099-INTs are sent to both taxpayers and the IRS by banks, credit unions, brokerages, or other financial institutions.
What Is Form 1099-INT?
Form 1099-INT is an IRS document that reports interest payments made to you throughout the year. The form is meant to capture interest income from various sources, such as interest payments from high-yield savings accounts, certificates of deposit, U.S. Treasuries, or other interest-bearing securities.[1]
The form captures interest payments you received from banks, credit unions, or online brokerages that paid interest to taxpayers.
Read More: What Is Tax-Loss Harvesting?
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Example of Form 1099-INT
Source: Internal Revenue Source [2]
How Form 1099-INT Works
You will use your Form 1099-INT to complete filing your annual tax return accurately. When you receive your Form 1099-INT, your interest income will be listed in Box 1. This amount is the interest income reported on your tax return.
Just because you receive Form-INT doesn’t mean you will pay taxes on those funds. You might have tax deductions – such as the standard deduction or itemized deductions – that can offset your interest income. Alternatively, you might have earned interest income in a tax-deferred vehicle, such as a 401(k) plan.
When Do You Receive Form 1099-INT?
You will need to file Form 1099-INT if you receive one from a bank, credit union, or other financial institution.
The deadline to mail these to taxpayers is January 31st, so if you are going to get one, you will likely receive it by February. The statement you receive in February will contain the earned income from the prior year.
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What Does My 1099-INT Mean?
Getting a Form 1099-INT in the mail or via an electronic portal means that you earned interest income throughout the tax year. If you are receiving this IRS document, it means that you need to report this income on your annual tax return.
There are other Form 1099s that you can be on the lookout for as well. For example, you might receive:
- Form 1099-MISC: For payments of $600 or more related to rent, prizes, awards, and other income.
- Form 1099-Div: For distributions or dividend payments from investments like dividend-paying stocks, real estate investment trusts, or mutual funds.
- Form 1099-C: For cancellation or forgiveness of debts in the amount of $600 or more.
Read More: Best Online Tax Software Programs
Smart Summary
You will receive a variety of Form 1099s in February related to the prior year’s activities. Form 1099-INT is meant to capture all the interest income earned throughout the taxable year from banks, credit unions, and other financial institutions holding interest-bearing securities on your behalf. For beginner investors, earning interest income can be a great way to increase your net worth and expand your investment portfolio.
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(1) Internal Revenue Service. About Form 1099-INT, Interest Income. Last Accessed January 9, 2026.
(2) Internal Revenue Service. Form 1099-INT. Last Accessed January 9, 2026.
