Foreign Stocks

Forum|Forum|6 years ago
February 11, 2020
1 reply
14 views

Do I need to report foreign performance shares? They will be granted in 2023.

The brokerage firm is UK based and they do not provide any tax US documents ;-(

Similar questions, do I need t report them in 8938 and in the FinCen?

Best answer by KarenJ2

As long as the stock is unvested stock and you have not already paid tax on the stock (Section 83(b)), you do not need to report the shares on the FBAR or Form 8938.

For FBAR: Only when it is substantially vested.

For Form 8938: Interests in property transferred in connection with the performance of services. You are first considered to have an interest in property transferred in connection with the performance of services on the first date that the property is substantially vested (within the meaning of Regulations section 1.83-3(b)) or, if you have made a valid section 83(b) election with respect to the property, on the date of transfer of the property. See page 6 of Form 8938 Instructions.

Form 8938 Instructions

Comparison of Form 8938 and FBAR

KarenJ2Answer

Level 13

As long as the stock is unvested stock and you have not already paid tax on the stock (Section 83(b)), you do not need to report the shares on the FBAR or Form 8938.

For FBAR: Only when it is substantially vested.

Form 8938 Instructions

Comparison of Form 8938 and FBAR

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