IL - Underpayment Interest Rates

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Illinois Underpayment Interest Rates

The interest rate is adjusted twice a year, on January 1st and then again on July 1st. Two interest rates apply. The one shown here is for payments less than 1 year overdue. It is the federal underpayment interest rate less 3%. After one year, the interest rate is the same as the federal rate.

Year Qtr 1
1/01 - 3/31
Qtr 2
4/01 - 6/30
Qtr 3
7/01 - 9/30
Qtr 4
10/01 - 12/31
2014 3% 3% % %
2013 0% 0% 0% 0%
2012 0% 0% 0% 0%
2011 % % % %
2010 1% 1% 1% 1%
2009 2% 2% 1% 1%
2008 4% 4% 2% 2%
2007 5% 5% 5% 5%
2006 4% 4% 5% 5%
2005 2% 2% 3% 3%
2004 1% 1% 1% 1%


For more information, see Federal Underpayment Interest Rates, which includes federal rates as well as links to other states.

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