Try this to resolve your issue: To update the information on foreign financial assets: Open or continue with your taxes In the Other Tax Situations section, click on Show more next to Other Tax Forms > click on Start or Revisit next to Prepare a report on foreign financial assets On the next screen, select No, I don't have foreign financial assets, and Continue.

TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

pakonom

Level 2

Question

Why is TurboTax stating that "You have a financial account in a foreign country" when I do not?

Forum|Forum|4 years ago
February 24, 2022
2 replies
20 views

No text available

TurboTax Free Edition Online

FangxiaL

Level 10

Try this to resolve your issue:

To update the information on foreign financial assets:

Open or continue with your taxes
In the Other Tax Situations section, click on Show more next to Other Tax Forms > click on Start or Revisit next to Prepare a report on foreign financial assets
On the next screen, select No, I don't have foreign financial assets, and Continue.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

pakonomAuthor

Level 2

Many thanks for your response. I tried that and it did not solve the problem, however... I reviewed the results of importing my tax data from pdf forms, and found that box 12 (FATCA filing requirement) was erroneously checked by TurboTax while importing the 1099-R form data. I cleared that box and the problem was resolved.

Thanks for your gracious willingness to assist, it is much appreciated!