Among the accounts I report on 90-22.1 is research grant account over which I have signing authority. The account has approximately $40-$80,000 at any given time over the fiscal year. This account is managed by a university business office, which makes sure all my authorized transactions are in accordance with the grant agreement. Furthermore, the account is audited yearly by the govt. granting agency. According to the instructions to 90-22.1, it appears I have "signature or other authority" over the account. Therefore, in box 26 ("Does the filer have a financial interest in the account?") I check "no" and then provide the information requested about the account owner (the university).
My question is this: Do I include this account in the total listed in box 20 (which asks for the "number of foreign financial accounts in which a financial interest is held.")? I assume, no, but would like confirmation. As I read this, the number of accounts reported on the form could very well differ from the number totaled up in box 20, which asks for a sub-set of those reported (ie, only those in which there is "financial interest".) Is this correct?
TD F 90-22.1: What is "Financial interest"?
Moderator: Mark T Serbinski CA CPA
Still looking for an answer:
Is box 20 asking for the total number of accounts listed on the form, or only those for which you have ticked off the "yes" box asking if you have a "financial interest" in the account?
I know this seems silly, since "financial interest" on one part of the form should mean the same thing on another, but you never know. And there is no explicit mention of this in the instructions.
Is box 20 asking for the total number of accounts listed on the form, or only those for which you have ticked off the "yes" box asking if you have a "financial interest" in the account?
I know this seems silly, since "financial interest" on one part of the form should mean the same thing on another, but you never know. And there is no explicit mention of this in the instructions.