[Peter-Berkeley]

I was on a J1 visa in the US in 2010 but it was my third year, which makes me resident alien for 2010 taxes.
As resident I need to file form 1040, including interest earned on my home bank account (in Germany) - I filed 1040EZ first but it is indicated that I have to use 1040 if my total amount of money on a foreign account is more than $10.000 (although interest earned is less than $1500 and would therefore fit to form 1040EZ).
In my situation, do I need to file Schedule B of form 1040? Do I also need to file form TD F 90-22.1, which is for US persons but I am not sure about the definition - I have a J1, 2010 was my third year, so I am considered resident for tax purposes... furthermore, I don't have any documentation from my German bank (such as files 1099-INT or similar forms) - do I need a form from my German bank and what other forms would I need to file ?

Besides that, I am not sure if the German government already took tax on my interest from my German account - which should neglect it for the US Taxes.. On top, if your interest does stay below a certain amount it is not taxable in Germany - but I guess now that I am a resident alien for tax purposes in the US it is taxable here?

I am very grateful for any help/suggestions/tips as I am slightly confused with all the different forms.

Thank you so much.

[bine2]

Yes, you do need to file Schedule B.
As a resident alien you also need to file form TD F 90-22.1 if you have more than $10,000 in foreign accounts (but not with your tax return, the deadline id June 30 and you need to send it to he US treasury).
You don't need any documents form your German bank to send with your return, however, you should have proof in case of an audit (Kontoauszuege showing the interest for example). I usually ask my bank to send me a year end statement. There is nothing like a Steuerfreibetrag in the US, you have to report the full amount. Additionally, you should have changed your address with your bank in which case you are not eligible for a Steuerfreibetrag in Germany as your residence is abroad, however they should also not take out any taxes as you are taxed in the US). If taxes were taken out, you can take a credit for those using form 1116.

[Peter-Berkeley]

Thank you so much for the answer.

Now that I actually deal with the forms I have one or two more questions.
I did get interest from my German account (which I included in my 1040 form) - do I include the information (amount of interest) in schedule B, part 1 as well (what would be the payers information - name of my foreign bank?)..
Schedule B, part III: What is the def. of "foreign trust"? Is my bank account considered a foreign trust? If so, what would I need to file in form 3520?

Thanks a lot for any answer.

[mte]

Hi, I'm in a similar situation as resident alien having pension funds in the country I was before being in the U.S. and which I would only get once retired. I don't understand if it is part of the exceptions for reporting foreign accounts including tax qualified retirement plans. In fact it's a obligatory retirment contribution in Switzerland, does that qualify?

Thanks so much!