Report interest payments of $10 or more from banks, savings institutions, and other financial entities.
The IRS is retiring FIRE. It accepts information returns until 3 p.m. ET on 19 November 2026, and from 1 January 2027 IRIS is the only electronic channel - including for prior-year returns and corrections. New Transmitter Control Codes are no longer issued through FIRE, so a TCC application now has to go through IRIS.
IRS noticeForm 1099-INT is used by banks, credit unions, brokerage firms, and other financial institutions to report interest income paid to customers. If you paid or received $10 or more in interest during the tax year, a 1099-INT is required.
Filing threshold: $10
Paper Filing
February 28
Electronic Filing
March 31
Recipient Copy
January 31
$60-$310 per form depending on how late
2024 penalty tiers: $60/form (≤30 days late) → $130/form (31 days-Aug 1) → $310/form (after Aug 1) → $630/form (intentional disregard). Small business caps may apply.
| Box | Description |
|---|---|
| Box 1 | Interest income |
| Box 2 | Early withdrawal penalty |
| Box 3 | Interest on U.S. Savings Bonds and Treasury obligations |
| Box 4 | Federal income tax withheld |
| Box 5 | Investment expenses |
| Box 8 | Tax-exempt interest |
| Box 9 | Specified private activity bond interest |
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File electronically through IRIS, or through FIRE until it closes on 19 November 2026. No paper, no postage, instant confirmation.
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You must file a 1099-INT if you paid $10 or more in interest during the tax year. For interest on bearer bonds, the threshold is $600.
Yes. Tax-exempt interest goes in Box 8 even though it may not be taxable at the federal level - it may still be subject to state tax and affects other calculations.
No. 1099-INT is for interest income paid TO recipients, not interest paid on loans. Business loan interest is reported on Form 1098.
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