Does Binance Report to the IRS?
Understand what Binance reports to the IRS through 1099 forms and what you can do to stay compliant.
Binance US reports income over $600 to the IRS via Form 1099-MISC.
Binance US issues 1099-DA to users and the IRS.
The global Binance platform doesn’t report to the IRS.
Does Binance report to the IRS?
Yes. Binance US may report your crypto transactions to the IRS. Currently, any user with more than $600 in income via the Binance US platform will be reported to the IRS.
From 2026, you'll also receive a Binance US 1099-DA, reporting on the gains and losses from disposals of crypto.
The global Binance platform does not operate in the US, nor does it report to the IRS.
What does Binance report to the IRS?
Binance issues Form 1099-MISC to any user with more than $600 in income throughout the financial year. Form 1099-MISC is issued to both the user and the IRS.
Beginning in the 2025 financial year (2026 filing year), Binance US also issues a 1099-DA that reports on the disposals (sales, trades, and spends) of crypto.
What counts as income on Binance?
Income from crypto generally refers to instances where you earn new tokens. This includes a number of Binance Earn features such as staking rewards, Simple and Advanced Earn, referral commissions, airdrops, and more.
Make sure to check out our guide to crypto taxes for more information.
When will I receive my 1099 form?
The US financial year runs from January 1 to December 31. If you’re going to receive a 1099 form from Binance US, you should receive this by the end of February (at the latest) of the following financial year, well before the April 15 deadline.
How do I get my 1099 Form from Binance?
You can download your Binance 1099 forms from the tax reports section on your Binance US profile.
What do I need to do if I receive a 1099 form from Binance US?
If you receive a 1099 form from Binance US, you are required to report it, and all other crypto income, on your tax return. You should also:
Review your form details to ensure that they are correct.
Calculate your tax liability.
Accurately report your gains, losses, and income.
Keep good records.
It's important to remember that if you receive a 1099-MISC from Binance US, this form only reports on miscellaneous income. Therefore, you're still required to report any capital gains or losses from crypto, as well as any other income, from Binance US and all other crypto exchanges and wallets you use.
Does Binance share other information with the IRS?
Whether you received a 1099 form from Binance US or not, you are still required to report all cryptocurrency transactions to the IRS. It's likely that the IRS already knows about your Binance investments anyway, and they have a legal right to request this information from Binance.
Does Binance report conversions to the IRS?
Yes. Binance US reports conversions of crypto to the IRS via 1099-DA. These began being issued in 2026 (for transactions made in 2025).
What does the IRS do with the information Binance provides?
Previously, the IRS has used information provided from 1099 forms to send warning letters to crypto investors. Any discrepancies on your tax return may also increase the risk of a crypto tax audit.
Read next: Received IRS Letter 6173 or 6174? Here's What To Do
What information does Binance US send to the IRS?
Binance US reports on user information such as your name, address, and TIN, as well as transaction details, including proceeds.
How do I report my Binance US taxes to the IRS?
You need to report any gains or losses on Binance to the IRS via Form 8949 and Schedule D. As well as this, you’ll need to report any income from Binance on Schedule 1 (or Schedule C, depending on your filing status).
As Binance only provides users with more than $600 in additional income with information about their tax obligations, the easiest way to report your Binance US taxes to the IRS is with a crypto tax calculator like Koinly.
Report your Binance US taxes with Koinly
Koinly simplifies reporting your Binance US transactions to the IRS by importing your transaction data from the platform automatically via API or by uploading a CSV file.
Once it has your data, Koinly will calculate your gains, losses, income, and more, before generating tax reports ready to help you file. Learn more about how to generate your Binance US tax forms with Koinly.
FAQs
Do I have to pay tax on my Binance transactions?
Yes. Any gains or income from your Binance transactions are taxable. Learn more in our crypto taxes guide.
Do you get a 1099 from Binance US?
Yes, some users will receive IRS 1099 Forms from Binance. Currently, Binance US issues 1099-MISC forms to US residents with more than $600 in income on the exchange in a single financial year. In 2026, Binance is expected to also begin issuing Form 1099-DA, which will report all disposals of crypto for a given user on the platform.
Does Binance US send a 1099-B?
No. Binance US does not currently issue Form 1099-B to users or the IRS.
Does Binance US send a 1099-K?
No. Binance US does not currently issue Form 1099-K to users or the IRS.
Do I need an FBAR for Binance US?
It’s unlikely you need to file an FBAR for Binance US. The FBAR (Foreign Bank and Financial Accounts) applies to foreign accounts exceeding $10,000. As Binance US operates in the US, this would not apply. If, however, you used the global Binance platform before it closed to US customers and your holdings exceeded $10,000, an FBAR filing may have been applicable.
Do you have to report crypto under $600?
Yes. Even if you don’t receive a Form 1099-MISC from Binance US, this doesn’t mean your rewards aren’t taxable. Many types of income from crypto are taxable upon receipt, even below $600.
