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Please check back later. I'll page Champ @pk.
@littlemisskissey75 from your post should I assume that you are talking about how to report Foreign specified assets for purposes form 8938 ? Or are you at line 3 --" type of filer" -- if so then you are a "specified individual". A specified individual is a person whom comes under the regs pertaining to FATCA.. This is generally a US person ( Citizen / GreenCard / Resident for Tax purposes ).
If you have a foreign bank / broker account with cash or cash equivalent or monies held for investment , then you meet the reporting requirements of FATCA. RealEstate is not Specified financial item.
Does this help ? Is there more I can do for you ?
This still does not answer what I select as the Entity type....and yes, I am referring to form 8398. Thanks in advance.
If the shares (investments) are held in a brokerage account (via a bank or otherwise), then you need to check "No" on the screen in the screenshot above.
@littlemisskissey75 , having read through all the posts/responses and going over the form 8938, I think you are dealing with the entries for line 35 where " If asset reported on line 29 is stock of a foreign entity or an interest in a foreign entity, enter the following information for the asset.".
Assuming that that is where you are, then and generally the entity whose stock/equities you hold , is a corporation. Note that the type of entity generally depends on the country where your "other" asset is held.
From your earlier post I thought you are talking about cash being held by a foreign bank ( even if for investment purposes ). Those would usually be classed as "deposit" accounts. Cash held in an investment account is usually a custodial account .
Does this make sense or am in left field again ?
Comments by my colleague @tagteam , I agree with to the extent that he understood your issue. Please tell us more so we can focus on your situation rather then answering in generalities. Please forgive my last error.
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