Schedule FA Calculator
Calculate initial, peak, and closing values of your foreign stocks in INR for ITR Schedule FA.
Schedule FA Reporting for RSU/ESPP
Resident Indians holding foreign assets, such as RSUs (Restricted Stock Units) or ESPP shares from US tech companies, must report them under Schedule FA in their ITR. Failure to do so carries a severe penalty of ₹10 Lakhs under the Black Money Act.
How to use this calculator
Gather your broker statements for US holdings for the calendar year (January 1 to December 31), not the Indian financial year. Schedule FA uses calendar year reporting even though your salary tax is on April to March.
Enter vest dates, share counts, and FMV in USD for RSU vesting, ESPP purchases, and year-end balances. Convert each event to INR using the SBI TT buying rate for that date, not the Google exchange rate or credit card rate.
The calculator helps estimate peak value during the year and closing balance for each foreign account or custodian. Match these figures with Form 67 and FIRC if you repatriated funds. If you first held foreign stocks this year, file Schedule FA even when tax on salary was already TDS-complete; non-reporting triggers ₹10 lakh penalty per year under the Black Money Act regardless of tax due.
Keep broker cost basis reports for RSU vest and ESPP purchase dates. Many payroll systems show only net shares after withholding, but Schedule FA needs gross vest values converted at the SBI TT rate on each vest date. Export CSV statements from Charles Schwab, E*TRADE, or Fidelity before March so values match your ITR filing window.
Estimate vest and sale tax separately with the RSU Tax Calculator before you fill Schedule FA figures. Schedule FA is a disclosure schedule. It does not replace salary or capital gains computation.
SBI TT Buying Rate
For taxation, all foreign currency values must be converted to INR using the State Bank of India (SBI) Telegraphic Transfer (TT) Buying Rate on specific dates (like the vesting date or calendar year-end).
Frequently Asked Questions
Is Schedule FA based on Financial or Calendar year?
Unlike the rest of the Indian income tax return, Schedule FA requires reporting based on the calendar year (Jan 1 to Dec 31) to align with global financial systems.
Do I need to report unvested RSUs?
No, unvested RSUs are merely a promise by the employer. You only report them in Schedule FA once they vest and you legally own the shares.
What is the penalty for missing Schedule FA?
Under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015, failing to report or misreporting foreign assets incurs a flat penalty of ₹10,00,000 per year.
Do I report foreign bank accounts with zero balance?
If the account existed at any point during the calendar year, it generally must be reported even if the closing balance was zero, unless a specific exemption applies to your residency status.
Are US 401(k) accounts covered?
Yes for resident Indians. Retirement accounts abroad are foreign financial assets. Reporting values and peaks correctly is separate from any tax treaty relief on withdrawals.
Do I need a CA for Schedule FA?
Many salaried employees with only RSU or ESPP accounts file themselves once they understand SBI TT rates. Complex multi-country portfolios benefit from a CA review before uploading the ITR JSON.
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