Does interest accrued on a bank certificate of deposit need to be reported each year?

[rbohnert]

does CD interest require reporting?

[SweetieJean]

Yes it does.  Didn't you receive a 1099-INT?

[JOHNA2]

Why if the CD did not  mature and I did not realize the interest earned?

[JohnB5677]

An individually owned CD is taxed as ordinary income tax rates. Banks that issue CDs are required to report interest in excess of $10 top the CD owner and the Internal Revenue Service. 

• Those CD's with terms of a year or less, is recognized as taxable income in the year that the CD matures.
• A CD with a term greater than one year—is subject to tax as interest accrues.
• If you own a long-term CD, the interest is treated as taxable income in the year in which you are legally entitled to it (You can close the CD before Maturity).
• By example, the owner of a CD with a four-year term will owe tax in each of the years that the CD is held.