File Form
1099-INT, Interest Income, for each person to whom you paid amounts
reportable in boxes 1, 3, 8 of at least $10 (or at least $600 of
interest paid in the course of your trade or business described in the
instructions for Box 1. Interest Income), for whom you withheld paid
any foreign tax on interest, or from whom you withheld ( did not
refund) any federal income tax under the backup withholding rules
regardless of the amount of the payment.
Report only interest payments made in the course of your trade or
business including federal, state, local government agencies
activities deemed nonprofit, or for which you were a nominee/middleman.
Report tax-exempt interest, only on Form 1099-INT. You do not need to
report tax-exempt interest that is original issue discount (OID). Report
interest that is taxable OID on Form 1099-OID not on Form 1099-INT.
