The Department of the Treasury has issued a notice requiring U.S. residents to participate in a mandatory survey of their ownership of foreign securities as of December 31, 2024. This survey is part of an effort to collect detailed information on the holdings of foreign securities, including stocks and both long-term and short-term debt, by U.S. residents. Entities required to report will be contacted by the Federal Reserve Bank of New York, and the data is due by March 7, 2025. Survey forms and instructions are available online, and inquiries can be made via email or phone to designated contacts.
Simple Explanation
The U.S. government is asking people who live in the U.S. and own money-related things from other countries, like foreign stocks and bonds, to fill out a special form by March 7th, 2025, so they can keep track of who owns what. They promised to send everything they need to fill out the form, but if you didn’t hear from them, you don’t have to worry about it.