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Definition of 'Nominee Interest'
Interest that a person receives on behalf of someone else. If you pass the interest on to another person, then you must file a Form 1099-INT to get an interest adjustment and thereby reduce your taxable interest.
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Investopedia explains 'Nominee Interest'
In this case, the person you nominate to receive the interest would be taxed.
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Search results for 'Nominee Interest'
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http://www.investopedia.com/articles/stocks/08/sipc-fdic-bank-failure.asp
... insures deposits (cash and CDs) up to $250,000 (principal and interest) for each ...
name, meaning under the name of the brokerage firm's nominee (which could be ...
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