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Ruta
Level 2

Where should I enter interest from a foreign bank? Is the "no FEIN" problem fixed?

Some posts, dated 2020 and 2021, ask this same question.  However, those posts add that, since the foreign bank has no FEIN, TurboTax treated it as an error during its review, causing the user to worry that e-filing would fail.  The workaround in those years was to enter the foreign-bank interest not in the "Interest & Dividends" section but instead in the "Less Common Income" section.

 

A more recent post, dated 2023 (link below), asks the same question, but the answer is to enter foreign-bank interest in "Interest & Dividends."  This suggests that the "no FEIN" problem of the past is fixed; in other words, the lack of a FEIN will not cause TurboTax review to flag it as an error, and e-filing should succeed without a FEIN. 

 

https://ttlc.intuit.com/community/taxes/discussion/need-help-in-entering-interest-income-from-foreig...

 

To be safe, could someone please verify:  In TurboTax for tax year 2023,...


1) Where should I enter interest from a foreign bank that has no FEIN? 

In "Interest & Dividends" or "Less Common Income" or where?

 

2) Will the lack of a FEIN cause me to be unable to e-file my return through TurboTax?

 

Thanks!

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1 Reply
DawnC
Employee Tax Expert

Where should I enter interest from a foreign bank? Is the "no FEIN" problem fixed?

Interest and Dividends.   The field only requires the payer's name, no EIN is necessary to successfully e-file.   

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