Mandatory disclosure: Reporting foreign ESPP holdings in schedule FA

Mandatory disclosure: Reporting foreign ESPP holdings in schedule FA

As your employer had disclosed the income from exercise of the ESPP, you would be owning the shares listed overseas. Therefore, you would need to disclose such shares in Schedule FA (foreign assets) of your income tax return.   Any asset owned overseas by a resident (other than a not ordinarily resident, or NOR) must be … Read more