--- - |2 Abstract The present research examines occurrences of interpersonal feedback in everyday life. Drawing upon retrospective self‐reports from three student samples in Germany and the US, we investigate why, how, and with what effect such feedback is shared. We found that feedback was common, occurring mostly within stable interpersonal relationships, and that positive feedback was reported to occur more often than negative feedback. Positive and negative feedback was provided to achieve different goals (acknowledgement vs. behavioral change), and feedback senders perceived negative feedback as less successful than positive feedback. Negative feedback was withheld primarily when potential senders perceived it as futile or potentially dangerous to their relationship with the recipient. However, negative feedback that was shared was not seen as particularly harmful in that regard. We discuss potential barriers to feedback effectiveness, whether and how the exchange of interpersonal feedback in everyday life may be promoted, and give recommendations for future research. - European Journal of Social Psychology, EarlyView.