I suspect that
1) you need to make absolutely sure those are really IRAs or IRA CDs. IF yes, then the following applies.
2) If the interest stays within that "IRA" account/CD, you have nothing to report, and the Bank person you talked to is either, misinformed, overworked, or they didn't realize they were inside IRA accounts.
3 IF in an IRA CD that matures and goes into a taxable account ...then the total value will be reported on a 1099-R at the end of the year...whether the total becomes taxable will depend on whether you roll the $$ into a new IRA within 60 days. IF instead, on Maturity, the CD gets rolled automatically into another IRA CD, or IRA cash account, then it may not need to be reported at all....a lot depends on whether they issue a 1099-R for that or not.....but it will not be a 1099-INT.
4) (much more rarely) IF you somehow arranged that the interest from those IRAs to be actually distributed out of the IRA and into a taxable MM account, or other taxable account......then the $$ will not be reported as interest on a 1099-INT, but will actually end up being reported as a 1099-R form for whatever tax year the $$ actually come out, I suspect no matter how small the amount . But that would happen only if the $$ were issued to an account outside of an IRA.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
