FATCA and Income Tax

Yes as it is an asset held in a foreign financial account. Are the dividends U.S. or foreign income? Paid by a US corp. makes it US sourced. And how do I find out if the dividends are qualified, since the tax from he would receive would not show this?

Typically, dividends paid during the tax year from domestic (U.S.) corporations and certain qualified foreign corporations are qualified. There is a 60 day holding period (90 days for preferred stock). It is easier to look at which dividends are not qualified. Typically, they are those paid by real estate investment trusts (REITs), master limited partnerships (MLPs), those paid on employee stock options, those paid by tax-exempt companies and dividends paid on savings or money market accounts. Special one-time dividends are also non-qualified. That said, the only way to be sure is to contact the investor relations department of the paying corporation.