The 1099-INT minimum is $10. Any bank, brokerage, or other payer that pays you at least $10 of interest during the calendar year has to send you a Form 1099-INT and file a copy with the IRS. The threshold decides whether paperwork gets generated. It does not decide whether the interest is taxable: every dollar of interest you earn is reportable income, even if no form ever reaches your mailbox.
Where the $10 Figure Comes From
Federal law requires anyone who pays $10 or more in interest to a single person during a calendar year to file an information return reporting that payment.1Office of the Law Revision Counsel. 26 USC 6049 – Returns Regarding Payments of Interest The IRS implements that rule through Form 1099-INT.2Internal Revenue Service. About Form 1099-INT, Interest Income
The $10 is cumulative for the year under a single taxpayer identification number. Twelve monthly interest credits of $0.90 each add up to $10.80, which crosses the line and triggers a form. If the yearly total lands at $9.99 or less, the payer generally has no obligation to issue one.
What counts toward the $10 is broader than many people assume. Savings and interest-bearing checking accounts, certificates of deposit, corporate bonds, and U.S. Treasury interest all count. Non-cash account-opening bonuses, like a gift card or merchandise, count at fair market value. Tax-exempt municipal bond interest is still reported on the form but does not add to your taxable income.2Internal Revenue Service. About Form 1099-INT, Interest Income Original issue discount is reported on a different form, Form 1099-OID.3Internal Revenue Service. About Form 1099-OID, Original Issue Discount
When the $10 Minimum Does Not Apply
Two situations wipe out the floor entirely. The payer must issue Form 1099-INT no matter how small the interest payment:
- Backup withholding. If federal income tax was withheld from your interest because you failed to provide a correct taxpayer identification number or had another reporting issue, a form is required for any amount. The backup withholding rate is 24%.4Office of the Law Revision Counsel. 26 USC 3406 – Backup Withholding
- Foreign tax withheld. If the payer withheld and paid any foreign tax on your interest, a form is required even if the interest was below $10.2Internal Revenue Service. About Form 1099-INT, Interest Income
Some recipients never receive 1099-INTs regardless of amount. Corporations, tax-exempt organizations, and individual retirement arrangements generally fall into that exempt category.
You Still Owe Tax on Interest Below $10
This is the point that trips people up most often. The $10 threshold is a paperwork rule for the institution, not a tax exemption for you. If you have three savings accounts each paying $4 of interest, no bank owes you a form, but you owe the IRS a report of all $12.
Where that interest goes on your return depends on the total. If your taxable interest for the year is $1,500 or less, you can enter it directly on your Form 1040. Once taxable interest exceeds $1,500, you have to file Schedule B and list each payer with the amount paid.5Internal Revenue Service. About Schedule B (Form 1040), Interest and Ordinary Dividends The same $1,500 trigger applies separately to ordinary dividends.6Internal Revenue Service. 2025 Instructions for Schedule B (Form 1040)
Keep your own records. Bank and brokerage year-end statements usually list total interest paid for the year even when the amount sits below the reporting threshold, and those statements are the easiest way to catch the small sums that otherwise slip through.
When You Should Have the Form
Payers must get Form 1099-INT to you by January 31 following the tax year. They then file their copies with the IRS by February 28 on paper, or by March 31 electronically.7Internal Revenue Service. Publication 1099 (2026), General Instructions for Certain Information Returns Most large banks and brokerages file electronically, so the IRS typically has the data by the end of March.
If Your 1099-INT Is Missing or Wrong
If February arrives and a form you expected has not shown up, contact the payer first and ask for a copy. If it still has not arrived by the end of February, you can call the IRS at 800-829-1040, and the IRS will contact the payer on your behalf.8Internal Revenue Service. What to Do When a W-2 or Form 1099 Is Missing or Incorrect
If the filing deadline comes and you still do not have the form, report the interest using your best estimate from your bank statements. If the actual form later shows different numbers, file an amended return on Form 1040-X.8Internal Revenue Service. What to Do When a W-2 or Form 1099 Is Missing or Incorrect
When a form you received has an error, go back to the payer and request a corrected version. Do not just file with your own figure; the IRS matches its records against the form the payer filed, and a mismatch tends to generate an automated notice.