Body Mass Index (BMI) and weight satisfaction are important factors related to energy intake underreporting in younger adults. However, few studies have explored that relation in older adults. Therefore, this study aimed to explore these factors in a sample of older adults who tend to underestimate their energy consumption. Sample included 40 older adults (57.5% male), with mean age of 68.8 ± 5.94 years old, who participated in the Health Survey of São Paulo, Brazil. Their total energy expenditure (TEE) was measured by doubly labelled water technique. BMI was classified according to Pan-American Health Organization and individuals categorized as being or not being overweight/obese. Energy intake (EI) was assessed with two 24-hours dietary recall. Ratio of EI:TEE was used to identify misreporting considering 95% confidence intervals. Chi-Square and t test were used considering 5% of significance level. Sixty percent were classified as under-reporters, 30% as plausible reporters, and 10% as over-reporter. Over-reports were excluded from analysis. Overweight and obesity were higher in under-reporters compared to plausible reporters (75% and 25%). Fifty-eight percent of under-reporters were dissatisfied with their weight. Although weight status was associated with weight satisfaction (p < 0.01), no significant difference was found for BMI (p = 0.76) comparing to plausible and under-reporters. Weight satisfaction was not associated with energy misreporting (p = 0.64). Even though these factors may be related to underreporting in adults, this association was not found among older adults. Results showed the importance of further studies to explore factors that might interfere in underreporting in this population.