# Reporting bank and investment accounts on Cerfa 3916



## bonjazz

I'm struggling with Cerfa 3916 and where to input foreign account balance. I've read that one can use the highest monthly balance during a given year for an account, ie savings, investment etc. but I don't see where to insert that on the form. Also, if one has multiple accounts ie checking, investment at one provider, ie Schwab in U.S., can one group them on one entry in section 4?
Thank you in advance for information.


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## Bevdeforges

Haven't looked at this year's forms yet, but France normally doesn't require any sort of balance information. Just the existence of the account, along with account number and the name and address of the financial institution. Makes so much more sense than the US FATCA reporting.

I do believe, however, that you are supposed to list the individual accounts within a single financial institution. However - here in France you only report foreign "bank accounts" and foreign "assurance vie" contracts. The question is always whether or not simple investment accounts are considered "assurance vie" here. I know that until I found the part in the tax treaty that recognizes IRAs and other retirement accounts as "state pensions" (which don't require reporting until you start making withdrawals) I did list them as "assurance vie" with title identification that included their status as IRA or 401K or whatever.

There is also a specific form (3916 bis) for reporting electronic accounts - though basically it asks for the same information (including the URL for the bank/account).


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## bonjazz

Thank you Bev, as always you have factual helpful information. I do wonder however, as to how investment accounts can be "assurance vie", but food for thought. And, "assurance vie" isn't really life insurance is it? I thought it was an investment vehicle. So, do real American life insurance accounts have to be reported? I'm referred to whole life policies with a cash value.
I did learn that a TransferWise/Wise account needs to be reported, but not Paypal accounts.


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## Bevdeforges

bonjazz said:


> And, "assurance vie" isn't really life insurance is it? I thought it was an investment vehicle. So, do real American life insurance accounts have to be reported?


As you say, "assurance vie" is a type of investment vehicle here. It isn't really purchased to provide a "payoff" when someone dies, though it does do that. Most people actually set up an assurance vie as a sort of "savings account with tax benefits" or even a sort of retirement account where you don't get taxed on earnings and gains until you start taking the money out. 

Never having held any foreign (to France) insurance nor investments (other than an IRA and a 401K) I've never really given the matter all that much thought. And, those electronic accounts (like Wise) are now reported on their own form - or rather a sort of addendum to the main 3915 form.


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