@DocNyr ,
1. for reporting requirements --- (a) FBAR ( >= US$ 10,000 at any time in bank accounts , generally liquid assets . This is done at BSAe-filing see www.fincen.gov and look for form 114 , it can be done ONLY online , by the owner of the asset. No tax impact but not reporting penalties can be very onerous.; (b) form 8938 ( FATCA form ) needs to be filed with your return if you meet the threshhold. See this detail from the IRS :
https://www.irs.gov/businesses/corporations/do-i-need-to-file-form-8938-statement-of-specified-forei...
2. for the current year and/or in the absence of 1099-DIV, you tell TurboTax that you have dividends to report and that you do not have a 1099-DIV. This will allow you to fill out a dummy ( in-effect ) 1099-div. A good idea would be to download , print a 1099-DIV from www.irs.gov, fill it out with the information that you have about the divdend and use this as-if you had a 1099-div. Keep this for your record ( along with any paperwork from UK ) for help if challenged ( very unlikely). Note that most foreign dividends are "ordinary" and therefore taxed as ordinary income. If this income is taxed in the UK you can claim foreign tax credit on this foreign income. Note that there is safe haven amount of US$300 per tax-payer ( i.e. US$600 for a joint return ) of foreign taxes paid that does not require the normal form 1116 and foreign tax limitations. Thus you get the whole credit rather than a ratio based on your foreign income vs world income.
Is there more I can do for you ?
