The interference rejection combining (IRC) receiver, which can suppress inter-cell interference, is effective in improving the cell-edge user throughput. The IRC receiver is typically based on the minimum mean square error (MMSE) criteria, and requires a covariance matrix including the interference signals, in addition to a channel matrix from the serving cell. Therefore, in order to clarify the gain from the IRC receiver, the actual estimation error of these matrices should be taken into account. In a system performance evaluation, the link performance modeling of the IRC receiver, i.e., the output signal-to-interference-plus-noise power ratio (SINR) after IRC reception including the estimation errors, is very important in evaluating the actual performance of the IRC receiver in system level simulations. This is because these errors affect the suppression of the interference signals for the IRC receiver. Therefore, this paper investigates and proposes IRC receiver modeling schemes for the covariance matrix and channel estimation errors. As the modeling scheme for the covariance matrix, we propose a scheme that averages the conventional approximation using the complex Wishart distribution in the frequency domain to address issues that arise in a frequency selective fading channel. Furthermore, we propose a modeling scheme for the channel estimation error according to the ideal channel response of all cells and a channel estimation filter to address channel fading fluctuations. The results of simulations assuming the LTE/LTE-Advanced downlink with two transmitter and receiver antenna branches show that the proposed modeling scheme for the covariance matrix estimation error accurately approximates the performance of a realistic IRC receiver, which estimates the covariance matrix and channel matrix of the serving cell based on the demodulation reference signal (DM-RS), even in a frequency selective fading channel. The results also show that the proposed modeling scheme for the channel estimation error is a robust scheme in terms of the r.m.s. delay spread of a channel model compared to the scheme using the mean square error (MSE) statistic of the estimated channel coefficients based on a channel estimation filter.