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We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

 
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5 Replies
JulieR
Expert Alumni

We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

Yes, this income will need to be reported on Form 8621.  Form 8621 is not supported in TurboTax.  Click here for the 8621 Form: https://www.irs.gov/pub/irs-pdf/f8621.pdf

The easiest way to include this is to print and fill the form out by hand, attach it to your 1040 and mail it to the IRS. Please see article below for 8621 instructions: https://ttlc.intuit.com/replies/6114657

We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

Do you know if Form 8621 is appropriate for "Assurance Vie" from France
JulieR
Expert Alumni

We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

Yes it is.

We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

Can you explain why ? I had different answers on this same forum and CPAs, so I am confused

We are telling me form 8621 is mandatory for assurance vie from France, can you confirm? How can I fill that into TurboTax?

After looking at form 8938, in my opinion, a compte assurance vie is a wrapper account where you deposit money which is then invested. It is not a foreign security or foreign investment in a corporation. The custodian of the account is a bank and it must be treated as a foreign bank account.
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