I have an investment account that has foreign investments that earned dividends. Do I need to file FINCen Form 114 and Form 3520?
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1 Best answer
KarenJ
Intuit Alumni
Jun 1, 2019 2:26:44 AM
If you hold your foreign stock in an account with a US brokerage firm (or bank or institution), then you do not have a reportable foreign financial asset, according to the rules, either under FBAR (FINCen Form 114) or Form 3520.
5 Replies
KarenJ
Intuit Alumni
Jun 1, 2019 2:26:37 AM
Is it reported on a 1099-B by a US broker?
marlonmack75
New Member
Jun 1, 2019 2:26:39 AM
It was reported on my 1099-DIV. it said I paid so much in foreign taxes too.
marlonmack75
New Member
Jun 1, 2019 2:26:41 AM
To clarify it came from my us broker 10099-DIV. the foreign accounts were one bond and one foreign mutual fund.
KarenJ
Intuit Alumni
Jun 1, 2019 2:26:44 AM
If you hold your foreign stock in an account with a US brokerage firm (or bank or institution), then you do not have a reportable foreign financial asset, according to the rules, either under FBAR (FINCen Form 114) or Form 3520.