Interest Income from Foreign Bank Account

[delmundol]

What if the interest income is less than $5, do you still have to report the interest income?

[DaveF1006]

Yes, technically, you need to report it. U.S. citizens and resident aliens must report all income earned worldwide, no matter the amount or where it comes from. Foreign income must be reported even if it's a small amount. There’s no exception for minor amounts. To report.

1. Go to the Wages & Income section. 
2. Select Interest on 1099-INT.
3. Choose "I'll type it in myself."
4. Enter the name of the foreign bank and the amount (converted to USD).

[delmundol]

Thank you.