How to file Schedule FA from Fidelity NetBenefits

1 · Who must file

If you are Resident & Ordinarily Resident (ROR) and hold any foreign asset — a Fidelity account, vested RSUs, ESPP shares — you must disclose it in Schedule FA of ITR-2/ITR-3. There is no minimum threshold. NR and RNOR are exempt.

2 · Export three CSVs from Fidelity

• View Open Lots CSV (required) — Stock Plan Account → View Share Details → Current shares → Export (Asset Currency = USD). One row per lot: acquisition date, quantity, cost basis/share, share source (RS = RSU, SP = ESPP), grant date.
• Transaction History CSV (required) — set the date range to Jan 1 → Dec 31 of the calendar year. Contains dividends, sales, and withholding.
• View Closed Lots CSV (only if you sold) — acquisition date, sale date, proceeds, cost basis.

3 · Table A2 vs A3 vs F

• Table A2 — the Fidelity custodial account: peak balance, closing balance (Dec 31), dividends, gross proceeds.
• Table A3 — one row per equity lot: each RSU vest and each ESPP purchase, with initial / peak / closing value.
• Table F — the Fidelity Stock Plan Services LLC Participant Trust (conservative; many CAs fold it into A3).

4 · The two rules people get wrong

• Rule 115, not Rule 26. Schedule FA uses the SBI TTBR on the exact event date. Rule 26 (last day of preceding month) is only for salary/perquisite in Form 16.
• Dec 31, not March 31. A US broker's accounting period is the calendar year. Closing values use the Dec 31 price and Dec 31 TTBR.

5 · Five common mistakes

1. Using March 31 instead of Dec 31 for closing balance.
2. Using Rule 26 (preceding month) instead of Rule 115 (exact date).
3. Aggregating all RSU lots into one row instead of one row per lot.
4. Using the discounted ESPP price instead of FMV as the initial value.
5. Skipping a year because you had no sales — disclosure is mandatory every year you hold the asset.