I have several accounts (i.e. savings, checking, money market) in a local bank. I also have Certificates of Deposit from the same bank. How should they be listed on my report?
You must aggregate any deposit accounts you have in a single financial institution and report them on Schedule A if they exceed $5000. For example, if you have $1000 in a checking account, $1000 in a money market account, $3500 in a savings account, and a $5000 certificate of deposit in Commerce Bank, you should list the name of the bank and identify the assets as “deposit accounts” on Schedule A. You also need to check a category of value for the aggregate value of the accounts. In the example above, the aggregate value is $10,500, so you would check the box in the $1,000-$15,000 column. You would also check a category of value for the amount of income earned as interest by the accounts during the reporting period.
I owned several Treasury securities that matured this past year. How do I report them?
On Schedule A, list “U.S. Treasury securities” in Block A. In Block B, check the “None” column, and in Block C check the “Interest” column and the column for the appropriate amount of interest earned during the reporting period. You do not need to list each security separately, and you do not need to make any entry in the Transactions section of Schedule B.
Should I report a variable life insurance policy?
Yes, you must report a variable life insurance policy on Schedule A (including for yourself, your spouse and dependent children), including all underlying assets that meet the reporting threshold.