This paper presents an evaluation of the design rules for the bending moment–shear force (M−V) interaction of cold- and hot-formed square, and rectangular hollow steel sections (SHS & RHS). More specifically, the design rules, as provided by EN1993-1-1 regarding RHS and SHS of section class 1 and 2 are covered for the steel grades S235 up to and including S460. A 4-point bending test was simulated by means of a finite element model, which was validated on the basis of experimental tests from existing literature. A parametric study was performed and numerical M−V interaction results were compared to the provisions in EN1993-1-1. This comparison indicates that the current design rules in EN1993-1-1 regarding M−V interaction are conservative and overestimate the reduction of the bending resistance due to the presence of shear. Alternative design rules for the shear area and M−V interaction of RHS and SHS are proposed and evaluated by means of a statistical assessment procedure based on existing literature and EN1990-1-1. Both newly developed design rules are shown to ensure an adequate reliability level when a partial safety factor equal to 1 is used.