The interest form the IRS is box 1 interest income. Even the form does not explicitly say so, if you reference the 1099-INT instructions, it cannot be box 3 interest.
Here is the IRS instruction for box 3:
"Enter interest on U.S. Savings Bonds, Treasury bills, Treasury notes, and Treasury bonds. Do not include in box 1. For a taxable covered security acquired at a premium, see Box 12. Bond Premium on U.S. Treasury Obligations, later." - IRS 1099-INT instruction
Box 3 interest is limited to specific types of investments purchased from the Treasury Department.
The IRS charges you interest when you don't pay on time, so they pay you interest when they have kept your money too long.
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