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New Member
posted Jun 6, 2019 6:36:11 AM

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

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

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1 Replies
Alumni
Jun 6, 2019 6:36:12 AM

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.