Brokerage Account & FATCA reporting restrictions

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Topic Author
TheITGuy
Posts: 6
Joined: Thu Feb 11, 2021 4:42 pm

Brokerage Account & FATCA reporting restrictions

Post by TheITGuy »

I am on a work visa and was planning to open a brokerage account in Fidelity where I had to certify the below statement :-
The FATCA code(s) you have provided (if any) indicating that I am exempt from FATCA reporting is correct.
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Can I get some help on interpreting this statement which I need to certify before opening the account? I have a foreign bank account and I regularly file Form 8938 FATCA reporting as part of annual tax returns. Would filing my 8938 FATCA reporting prevent me from opening a brokerage account? I am not quite sure how to interpret that statement which I need to certify in Fidelity before opening an account. Can anyone please help me on this?
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