Does Binance Report to the IRS? Binance.US Tax Forms

Q: Which crypto exchanges do not report to the IRS?

Most US-based exchanges, such as Binance US and Coinbase, report to the IRS. Exchanges without a US presence may not, but KYC (Know Your Customer) regulations can still allow authorities to track them.

Q: Do I need an FBAR for Binance?

Not for Binance.US, which is a US platform. For a Binance.com account, FinCEN Notice 2020-2 says an account holding only crypto isn’t reportable on the FBAR. If it also held fiat or other reportable assets and your foreign accounts topped $10,000 combined, it goes on your FBAR.

Q: What does Binance US report to the IRS?

Binance US reports user income of $600 or more for 2025 ($2,000 or more for payments made in 2026) from staking, rewards, and referral programs through Form 1099-MISC.

Q: Do you have to report crypto under $600?

Yes. Crypto income is taxable whether or not you get a form. The $600 threshold, which rises to $2,000 for 2026, only decides whether Binance.US sends you a 1099-MISC. It doesn’t change what you report.

ByZac McClure, MBA · Reviewed byTynisa (Ty) Gaines, EAUpdated on November 9, 2026 · minute read

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TokenTax content follows strict guidelines for editorial accuracy and integrity. We do not accept money from third party sites, so we can give you the most unbiased and accurate information possible.

Binance.com does not serve US users and sends no IRS forms.
Binance.US sends Form 1099-DA for sales/swaps and Form 1099-MISC for eligible rewards.
Report every taxable trade even without a form. Last reviewed: November 9, 2026.

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Does Binance or Binance.US report to the IRS?

Binance.com does not serve US users and sends no US tax forms. Binance.US, a separate US platform, reports to the IRS: Form 1099-DA for sales and swaps (no minimum) and Form 1099-MISC for rewards at or above the reporting threshold ($600 for 2025; $2,000 for many 2026 payments — verify box rules). You still report all taxable activity yourself.

Last reviewed: November 9, 2026 (tax year 2026 / returns filed in 2027).

Related: Form 1099-DA guide.

Binance does not serve US users. This means it doesn't report directly to the IRS.

Note: Binance.US operates separately from Binance (for US customers) and does report certain income to the IRS, which affects how US taxpayers should approach their crypto tax filings.

What is Binance.US?

Binance.US is an entirely separate platform from the primary Binance exchange. It is tailored for American users to meet regulatory requirements.

As such, Binance.US reports specific transactions to the IRS, including income from rewards, staking, and referrals. The threshold is $600 for 2025 and rises to $2,000 for the 2026 tax year.

How are my Binance.US transactions taxed?

Your Binance.US transactions are taxed based on how they’re classified:

Capital Gains/Losses: Report gains and losses from buying, selling, and swapping crypto on Form 8949, with totals carried to Schedule D.
Ordinary Income: Report staking rewards, referral bonuses, and similar payouts as ordinary income at fair market value when you receive them. This applies to everyone, not only to professional traders.

Does Binance report crypto transactions to the IRS?

Binance does not report to the IRS, as it does not serve US customers. Instead, Binance.US handles transactions for American users and reports certain types of income to the IRS. If you’re a US taxpayer, you must report your Binance.US activity to comply with IRS regulations.

This table shows how the two platforms differ for US taxpayers.

Platform	Serves US customers	Reports to the IRS	Tax forms
Binance.US	Yes	Yes	Form 1099-DA for sales, swaps and other disposals, with no minimum. Form 1099-MISC for rewards of $600 or more for 2025 and $2,000 or more for 2026
Binance.com	No	No	None for US users. Report any activity yourself on Form 8949, Schedule D and Schedule 1

What information does Binance.US send to the IRS?

For users who cross the reporting threshold on Binance.US, $600 for 2025 and $2,000 for 2026, the platform issues Form 1099-MISC, which includes:

User Details: Name, address, and taxpayer identification number (TIN).
Income Information: Amount earned from staking, referrals, or similar programs.

A copy of this form is also sent to the IRS, ensuring transparency. Binance.US also issues Form 1099-DA, beginning with the 2025 tax year. Unlike the 1099-MISC, there is no minimum dollar threshold for the 1099-DA.

What is Form 1099-DA for crypto?

Form 1099-DA is the IRS information return for digital asset sales and exchanges through US brokers and exchanges like Binance.US.

For the 2025 tax year (forms sent in early 2026), Form 1099-DA reported gross proceeds only, with no cost basis, so you need your own records to complete Form 8949 and Schedule D. For the 2026 tax year, brokers must also report basis for crypto bought on or after January 1, 2026, in the same account. Those forms are due by February 16, 2027.

Brokers must collect and confirm your tax status through Form W-9 or W-8. New accounts opened on or after January 1, 2026 need a certified TIN up front. Backup withholding itself is deferred: the IRS waived it for 2025 and 2026, so 24% withholding on proceeds begins with 2027 transactions. If your account predates January 2026, your broker can avoid withholding by matching your name and TIN through the IRS TIN Matching Program.

What should I do if I received a 1099-MISC from Binance.US?

If you receive a 1099-MISC from Binance.US:

Verify for Accuracy: Review the form to ensure all details are correct.
Report the Income: File it on Schedule 1 (Form 1040), line 8v, and calculate applicable taxes.
Retain Documentation: Keep a copy for your records, as the IRS will have access to this information.

Looking to calculate your crypto taxes? Try our free crypto tax calculator.

Does Binance.US send a 1099-B?

Binance.US does not issue Form 1099-B, which covers securities sales. Digital asset sales go on Form 1099-DA instead.

Report your Binance.US taxes with TokenTax

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Sign Up: Create a TokenTax account.
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Connect Binance.US: Use the API to import your transaction data.

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Binance IRS reporting FAQs

Which crypto exchanges do not report to the IRS?

Do I need an FBAR for Binance?

What does Binance US report to the IRS?

Do you have to report crypto under $600?

Frequently asked questions

What is the difference between Binance.com and Binance.US?

Binance.US is a separate US platform that serves US customers and issues US tax forms. Binance.com does not serve US users.

Does Binance.US send Form 1099-B?

No. Digital asset sales are reported on Form 1099-DA, not Form 1099-B.

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