Glossary · US Tax
Schedule B
Schedule B reports interest and dividend income on a US return, and includes the foreign-accounts question that flags FBAR and FATCA obligations. Americans in the UK often must complete it even for modest UK savings and investment income.
Interest and Ordinary Dividends (Form 1040)
In more detail
Schedule B attaches to Form 1040 to report interest and ordinary dividends. For Americans abroad its most important feature is Part III, which asks whether you have a financial interest in or signature authority over foreign accounts — the question that surfaces FBAR and FATCA reporting. UK bank interest, dividends from UK shares, and similar income belong here, converted to US dollars.
Does Schedule B apply to your situation?
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