I've been searching a while for a clear answer to this seemingly simple question but have been unable to find it. Any insight would be greatly appreciated.
I am a US citizen living in Europe. I have an Interactive Brokers account through Interactive Brokers Ireland Limited.
On the IRS Q&A page for Form 8938 (https://www.irs.gov/businesses/corporat ... -form-8938) it says the following:
Question:
Answer:I own foreign stocks and securities through a foreign branch of a U.S.-based financial institution. Do I need to report these on Form 8938?
From what I can tell Interactive Brokers Group is based in Connecticut, U.S. so can anyone point me to something that can clarify whether Interactive Brokers Ireland Limited qualifies as a 'foreign affiliate of a U.S.-based financial institution' and therefore does not require reporting on Form 8938?If a financial account, such as a depository, custodial or retirement account, is held through a foreign branch or foreign affiliate of a U.S.-based financial institution, the foreign account is not a specified foreign financial asset and is not required to be reported on Form 8938.