Does EDD count bank interest as income when certifying? Worried about my savings

yes u have to report all income no matter what

OMG I've been on UI for 3 months and have never reported my bank interest!!! Am I going to get in trouble?? Will they make me pay everything back?? I didn't know interest counted as income!!! Has anyone been audited for this??

When certifying for unemployment benefits, you only need to report work income that was earned through services you performed. Bank interest is considered passive income and does NOT need to be reported when certifying for UI benefits. The EDD certification form specifically asks if you "worked or earned money" - bank interest isn't considered "work" because you didn't perform services to earn it. It's passive income from your assets. However, bank interest IS considered taxable income by the IRS, so you'll still need to report it when filing your taxes. But for EDD certification purposes, you don't need to include it.

I just had an eligibility interview with EDD last month and specifically asked this question! The interviewer told me that interest from savings accounts does NOT count as "work" income for UI certification. They're specifically looking for money earned from providing services (like a job, gig work, self-employment, etc.). But absolutely DO report any WORK income you earn, even small amounts. That's what they care about.

The EDD system is totally BROKEN when it comes to this stuff. They expect us to know all these tiny rules without explaining them clearly!!! I reported my stock dividends for 6 weeks and later found out I didn't need to. No one tells you these things and then they act like you're committing FRAUD if you make a mistake. I wasted like $450 in benefits because I over-reported!

Let me clarify some confusion I'm seeing in this thread. For EDD certification purposes, you only need to report income that came from WORK you performed. This includes: - Regular employment wages - Self-employment earnings - Gig work/1099 income - Side jobs, even if paid in cash - Consulting fees You do NOT need to report: - Bank interest - Investment dividends - Capital gains - Rental income (unless property management is your job) - Gifts from family/friends The key distinction is whether you performed work/services to earn the money. Interest accumulates without you doing work, so it's not reportable for UI certification.

When I was on unemployment last year I tried calling EDD to ask about this exact thing and it was IMPOSSIBLE to get through. After like 30+ calls over 3 days I finally used Claimyr (claimyr.com) and got connected to an EDD rep in like 20 minutes. They confirmed that interest income doesn't count for certification. You can see how it works in their video demo: https://youtu.be/JmuwXR7HA10?si=TSwYbu_GOwYzt9km saved me so much frustration!

I remember when I first started getting unemployment back in 2023 and I was worried about the same thing! I had some CDs maturing and wasn't sure if I needed to report it. Turns out interest is considered passive income, and when you certify, they're only asking about active income from work. But definitely report any side gigs or part-time hours - those count!

Okay so what about if someone sends you money through Venmo to pay you back for something? Does that count??? I'm now paranoid about ALL money coming into my accounts!!

To wrap this up clearly for anyone with similar questions: 1. Bank interest does NOT need to be reported when certifying for unemployment benefits 2. The certification question specifically asks about income from WORK you performed 3. Passive income (interest, dividends, etc.) isn't considered work income for UI purposes 4. You still need to report this interest on your taxes to the IRS - this is separate from EDD 5. Always report any actual work you perform, even small amounts or side gigs Hope this helps! The distinction is about whether you performed services to earn the money.

This thread has been super helpful! I was in the exact same situation and was losing sleep over whether to report my savings account interest. It's such a relief to know that passive income like bank interest doesn't need to be reported for EDD certification. The distinction between "work income" and "passive income" makes total sense now. Thanks everyone for sharing your experiences - it really helps to hear from people who have actually dealt with this situation before!