3.1.1 Interest income on bank deposits etc.

Item 3.1.1 Applies to the tax year 2016

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This item shows what you and your children aged under 17 have received in interest income. Interest income belonging to children aged under 17 will be split with half being assigned to each of the parents when they live together. The total will normally be pre-completed with the amount that has been reported, so you should check that everything is correct.

Does this item concern me?

The item concerns everyone who:

  • has bank deposits in Norwegian banks which have generated interest income and/or
  • is the parent of a child who is under 17 years of age at the end of the income year and has bank deposits in Norwegian banks which have generated interest income.

Foster parents

If you are a foster parent and do not receive an allowance, it will also apply to you to.

If you do not live with the child's mother/father

If the parents do not live together, it is the parent who the child lives with, according to the National Registry at the end of the income year, who must enter the interest income.

If the child is living with you and you are married, the child's interest income will be split between you and your spouse. If your spouse is not the child's biological parent, they can transfer the entire income to you. 

How do I enter this in my tax return?

The item will normally be pre-completed with interest income. The amounts are based on what was reported by your bank(s), so you should check that everything is correct. The amounts you should perform the check against will be shown in the annual statement you receive from your bank(s) in January. You must correct the tax return if the amount shown is wrong. You should also contact your bank to ensure that the annual statement is correct.

Information is missing
If any information is missing, you must enter the name of the bank, the deposit amount, interest income and the reason why you are changing the item.

Distribution of interest income between spouses/spouse-equivalent cohabitants and others 
Even if you have a joint bank account with other people, interest income will only be reported by the bank for one person. Spouses can distribute interest income freely in their tax returns. Both parties must change their returns so that the total is the same.

Others with a joint bank account can distribute the deposit and interest according to their ownership share. You must change or add the name of the bank, the deposit amount, interest income and the reason why you are changing the item.

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Documentation requirements

You do not need to send us any documentation for this, but you must be able to present documentation if we ask for it.

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