I have a brokerage account in South Korea where I hold individual stocks and the balance of the account meets the reporting threshold. Should this be reported as a financial account (deposit/custodial) which is Part I and Part V of the actual form or should this be reported as other foreign assets under Part II and Part VI? The IRS instruction seems to suggest that brokerage account would fall under other foreign assets and not a financial account. Appreciate confirmation on this.
