FAQs: Foreign Exchange Position

1. I traded currency futures as well. Should I report those positions as foreign currency?

If you traded currency futures, you should refer to the section on futures trades for examples and instructions on how to report a futures position. Similarly, see the put or call option section of this guide for instructions on how to report currency options.

2. If I have income from a profitable currency trade and I have received interest income on the position, how do I report this income?

Aggregate the profit and the interest income and if the total is greater than $200, mark the appropriate income “Amount” column. Also, mark the “Type” columns corresponding to capital gains and interest income.

3. If I engaged in a series of trades involving the same currency pair, can I aggregate them in a single entry in my financial disclosure report for that currency pair?

Yes. You may aggregate all positions for the same currency pair and treat them as a single entry in your financial disclosure report. If you have a series of closed positions and still maintain open positions, remember to mark the category of value in Block A of Schedule A according to the value of the open positions.

4. I have a foreign bank account (i.e., deposit account denominated in a foreign currency). How do I report that account?

Follow the instructions for bank accounts in this guide.

5. I have physical holdings of foreign currency in a safe deposit box. How do I report that?

You do not have to report foreign currency held in the form of paper currency or coins.

6. I have an interest in a currency swap. How do I report this?

The reporting requirements will depend on the exact nature of the interest. Please consult your agency ethics official for additional guidance. 

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.

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