1099-INT - Overview

File Form 1099-INT for each person:

• To whom you paid amounts reportable in boxes 1, 3, and 8 of at least $10.
• For whom you withheld and paid any foreign tax on interest.
• From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment.

Note that some accounts may be considered exempt based on their US tax classification. (e.g., Corporation).

Deadlines

See below for the deadlines relevant to the Form 1099-INT:

• January 31st is the last day to deliver forms to recipients
• March 31st is the last day to submit filings

If a deadline falls on a weekend or holiday, it will be extended to the next business day. A 30-day extension is generally available for both of the deadlines above. 

Resources

Please see the Form 1099-INT – IRS Form & Instructions for official IRS information.

Below are the applicable CSV Ingestion Templates:

• Account Owner/Account CSV Template
• Transactions CSV Template
• 1099-INT Form Data CSV Template – Only required if not sending transactions

A sample form is also attached to the bottom of this article for your reference.

Data Requirements

See below for all of the required data elements for completing Form 1099-INT reporting.

Filing Entity

The legal entity responsible for the issuing forms will be the filing entity. The information listed below must be submitted through the Taxbit Dashboard.

For more information on Filer setup, please refer to this guide: Filer Setup

Please note: If there are multiple filers, please ensure that you are using the correct filer ID for the associated account(s).

Account Owner / Account

For ingestion purposes, the only data point required to create/update an Account Owner is the Account ID. This allows you to add all of your users to the Dashboard, even while you may still be collecting additional information. There will be reports available in the Dashboard to let you know if something is missing for an Account that is eligible for a tax form.

For more information on formatting the Account Owner/Account CSV templates, please refer to this guide: Standard Account Owner/Account - CSV Ingestion Template Guide

The following table, however, summarizes the required fields needed to complete the Form 1099-INT.

Note that there are other fields on the Account Owner / Account model that are not listed here, as they are not required for 1099-INT reporting.

Transactions or Form Data

For account activity, we can either collect raw transaction data, in which case Taxbit will complete the aggregations and determine the ultimate data to report on the Form 1099. If you are doing the aggregations already, then we also offer the option of sending us Form Data, which would include the final amounts that go on the form.

Transactions

For the Form 1099-INT, the only applicable transaction type is Income, with a subtype of Interest-Fiat-Backed.

Form Data

To the extent transactions are not being provided, and Taxbit is not handling aggregations, the following data points must be provided for Form Data ingestion.

Note that there should typically be a single row for each Account in the template; however, if the income applies to multiple states, there may be a separate row for each state. The state field is only required if there is state withholding, or if the income is attributable to a state that is different from the Account Owner’s address.

 SAMPLE-123_1099INT_2024_0.pdf

2026_1099-INT_Submission_Review_SAMPLE.zip