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New Interest Reporting to Nonresidents The United States has maintained and continues to maintain a policy of not taxing deposit interest of U.S. nonresidents. Also, with limited exceptions, the U.S.
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New interest reporting is filed to the relevant tax authority.
Individuals or businesses who have earned interest income during the tax year are required to file new interest reporting.
New interest reporting can be filled out online through the tax authority's website or by submitting a paper form by mail.
The purpose of new interest reporting is to report any interest income earned during the tax year to the tax authority for tax purposes.
Information that must be reported on new interest reporting includes the amount of interest income earned, the name of the financial institution where the interest was earned, and any related tax identification numbers.
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