I own BMW stock. Is that considered a foreign financial asset?

I own the stock through a U.S. brokerage.

posted

Connect with an expert

1 Reply

I own BMW stock. Is that considered a foreign financial asset?

No; the question is about bank or brokerage accounts held in a foreign country. Foreign stock held at a U.S. brokerage is not a "foreign financial asset", especially since BMW has an American Depository Receipt (ADR) program for U.S. shareholders.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post