IRS Form Schedule B

Form Schedule B: Interest and Ordinary Dividends

A plain-English guide to IRS Form Schedule B — what it's for, who files it, when it's due, and how to complete it.

Form numberSchedule B
Official nameInterest and Ordinary Dividends
CategoryIndividual
Typically dueWith Form 1040 (April 15)
Official IRS Form Schedule B (PDF)

What is Form Schedule B?

Schedule B lists your interest and dividend income when the totals are high enough to require detail — generally over $1,500 of either.

Schedule B is mostly a listing exercise — name each payer and amount once your interest or dividends top $1,500. The part that carries real weight is Part III, which asks whether you have foreign financial accounts and ties into separate FBAR and FATCA filing requirements.

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Who files it

Taxpayers with more than $1,500 in taxable interest or ordinary dividends, or certain foreign accounts.

When it's due

Form Schedule B is generally due With Form 1040 (April 15). Deadlines can move for weekends and holidays, so confirm the exact date for the current year on IRS.gov.

Key lines and parts

Here's what you'll actually fill in on Form Schedule B:

  • Part I — interest
  • Part II — ordinary dividends
  • Part III — foreign accounts and trusts

How to file

List each payer and amount, total them, and carry the totals to your 1040. Part III asks about foreign accounts.

Common mistakes & penalties

Answering the foreign-account question carelessly is the dangerous mistake. If you have accounts abroad over certain thresholds, missing the related FBAR/FATCA filings can bring penalties far larger than any tax on the income itself.
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Frequently asked questions

What is IRS Form Schedule B?

Schedule B lists your interest and dividend income when the totals are high enough to require detail — generally over $1,500 of either.

Who has to file Form Schedule B?

Taxpayers with more than $1,500 in taxable interest or ordinary dividends, or certain foreign accounts.

When is Form Schedule B due?

Form Schedule B is generally due With Form 1040 (April 15). Always confirm the current year's date on IRS.gov, since deadlines shift for weekends and holidays.

What's the most common mistake with Form Schedule B?

Answering the foreign-account question carelessly is the dangerous mistake. If you have accounts abroad over certain thresholds, missing the related FBAR/FATCA filings can bring penalties far larger than any tax on the income itself.