By paying interest income to a person, the IRS makes you report it with the help of the form 1099-INT. This form will ensure you as well as the recipient remain within the threshold of the federal taxes. In 2026, you will probably be required to complete this form, assuming that you incurred an interest of $10 or more in 2025. This is a plain explanation on who should file, what to incorporate, and how to be on time.
Table of Contents
Who Must File Form 1099-INT
Form 1099-INT should be delivered by you in case you paid more than $10 of interest income to any individual or business in the course of the year. This includes:
- Savings or investment accounts interest.
- Interest on U.S. Savings Bonds/Treasury obligations.
- Some other reportable interest payments.
You should also report whether you incurred an interest of more than 600 dollars and above in the course of your business.
Particular recipients like corporations, IRA and foreign persons are generally not required to receive a 1099-INT. Nevertheless, it is better to carefully study IRS regulations or ask your tax preparer to clarify it in case of any doubts.
The Information that You should include.
The payer and the recipient must have full information in every Form 1099-INT. You’ll need:
Payer information:
- Name
- Address
- Taxpayer Identification Number (TIN)
Recipient information:
- Name
- Address
- TIN
- Account number (if available)
Interest Details to Report
In filling the form, write in the appropriate boxes the following key amounts:
- Box 1: interest income of $10 and above.
- Box 2: Any early withdrawal penalties.
- Box 3: U.S. Savings Bond and Treasury interest.
- Box 4: Backup withholding amounts.
- Tax withheld boxes: Federal or State income tax withheld, as applicable.
In case of a recipient who has several accounts, consolidate them within the same TIN and be sure that the sums are correct before filing them.
Pre-filing: Observe and Obtain Recipient Information.
Always get a signed Form W-9 of your payees before you make any payment. This will assist you in checking the name and TIN of them to ensure that you report correctly. This will also be useful when using IRS TIN Matching tool to verify some details and minimize the possibility of errors or fines.
Filing Deadlines for 2026
The 2025 form 1099-INT should be mailed early in 2026. Here’s what to remember:
Distribute copies to the recipients before February 2, 2026.
In case you intend to send electronic copies, ensure that you get a written permission of the recipients prior to doing so.
Submit to the IRS by March 2, 2026, when filing on paper.
Attach Form 1096 as an overview on paper filing.
Due by March 31, 2026, when e-filing your file.
Electronic filing will be obligatory in case you have 10 or more forms.
E-filing is easy at Form1099Online.com where you can file your Form 1099-INT in minutes. The system assists you in typing in the details rightly, check on mistakes and make a submission that is safe to the IRS.
Keep Records to refer to in the future.
Retain W-9 forms, account statements and IRS filing receipts at least 3-4 years. These records might be required in the future in the process of verification, particularly in case of backup withholding.
Avoid Penalties
Penalty can be caused by late filing or wrong information. Miscellaneous penalties will be between 60 and 680 dollars per form depending on the lateness of filing, and whether the mistake was willful or not. Before submitting, early filing and checking information would prevent these charges.
Conclusion:
Check TINs and payable amounts twice before filing.
Deliver copies to receivers on time.
Quick and precise e-filing data to be used should be done with an IRS-approved site such as Form1099Online.com.
These steps will help you submit Form 1099-INT without any hassles and remain in the IRS regulations by 2026.