Do I need to disclose unvested RSUs in Schedule FA?

Yes. Unvested RSUs are a beneficial interest in foreign equity and must be disclosed in Table A3, valued at the market value of the unvested units on Dec 31 converted at the SBI TTBR rate.

I sold all my shares during the year. Do I still need Schedule FA?

Yes, if the account was open during the year, even with a zero closing balance. Report the gross sale proceeds in Table A2; the account status can be Inactive if it was closed.

Do I report both the brokerage account and the ESPP plan account?

Yes. The Stock Plan brokerage account and the ESPP plan account are separate custodial accounts and each gets its own row in Table A2.

Can I claim credit for US taxes withheld on RSU income?

Yes, under the India-US DTAA. Claim US federal withholding in Schedule TR, limited to the Indian tax on the same income. State income tax is not creditable.

I did not file or filed Schedule FA incorrectly last year. What should I do?

File a revised or belated return as soon as possible for open assessment years. For older years, consider voluntary disclosure with a CA; the Black Money Act penalises non-disclosure heavily, so act before any notice.

How to File Schedule FA in ITR-2 — Complete Step-by-Step Guide

Overview

Step 1

Gather documents

Step 2

Compute values

Step 3

Fill ITR-2 portal

Step 4

Verify & submit

Don't want to do Steps 1-4 by hand?

Upload your Fidelity CSVs and this tool computes Table A2, A3 and F for you — SBI TTBR rates included, ready in about 2 minutes. Free preview before you pay.

Upload Fidelity CSVs Now

Or keep reading below to do it manually.

Step 1 — Gather Required Documents

From Fidelity NetBenefits (CSV exports)

Open Lots CSV — per-lot acquisition date + USD cost basis
Stock Plan Account → View Share Details → Open Lots → Export → Asset Currency (USD)
Closed Lots CSV (only if you sold shares)
View Share Details → Closed Lots → Export → Asset Currency (USD)
Transaction History CSV — dividends, sales, vests, ESPP, tax withheld
Activity → Transaction History → date range Jan 1 – Dec 31 of the calendar year → Export

Fidelity's accounting period is Jan 1 – Dec 31, so the Table A2 closing balance is the Dec 31 value — not March 31.

SBI TTBR Exchange Rates

Indian law requires the SBI Telegraphic Transfer Buying Rate (TTBR) for USD→INR conversion. Schedule FA follows CBDT's Schedule FA filing instructions:

CBDT's Schedule FA filing instructions: Use the SBI TTBR on the exact date of the event — acquisition, dividend or sale (for balances, the balance date itself).
Example: RSU vested Feb 7 → use the Feb 7 rate (nearest preceding working day if a holiday). This is different from Income-tax Rule 115, which uses the preceding month's rate for computing salary/dividend/capital-gains income — a separate law from Schedule FA disclosure.

Look up historical rates at: SBI Forex Rates .

Our tool auto-fetches SBI TTBR rates (with official FBIL / RBI reference-rate fallbacks for pre-2020 dates). You can override any rate.

Other Information Needed

Closing balance (Dec 31)
Table A2 closing balance = the account value on Dec 31, the end of Fidelity's Jan–Dec accounting period. Our tool computes this from your lots × the Dec 31 share price.

Nature of ownership
Typically "Beneficial Owner" for your own employer stock accounts. "Beneficiary" only if you inherited the account.

Residential status confirmation
Must be Resident and Ordinarily Resident (ROR). Count days in India for the FY to confirm.

Form 16 (from employer)
RSU perquisite income and TDS details. Cross-reference with Schedule FA to ensure consistency.

Step 2 — Compute Required Values

Values Needed per Table

Table A2 — Foreign Custodial Accounts

One row per account. Typical Fidelity NetBenefits users have two: Stock Plan Account + ESPP Plan Account.

Field	How to Calculate	Example
Peak Balance (INR)	Highest month-end value during Fidelity's Jan–Dec period (shares × price) × SBI TTBR on that month-end date.	$98,900 × 84.95 = ₹84,01,555
Closing Balance (INR)	Value on Dec 31 (shares held on Dec 31 × Dec 31 price) × SBI TTBR on Dec 31.	$80,000 × 85.00 = ₹68,00,000
Gross Income (INR)	Each dividend during the calendar year (Jan–Dec) × SBI TTBR on the dividend date (CBDT's Schedule FA filing instructions), summed.	$50 × 84.50 = ₹4,225
Gross Proceeds (INR)	Each sale during the calendar year (Jan–Dec) × SBI TTBR on the sale date (CBDT's Schedule FA filing instructions), summed. From the Transaction History CSV.	$8,500 × 84.20 = ₹7,15,700

Table A3 — Foreign Equity Interests

One row per equity interest. Fidelity users typically have: vested shares, ESPP purchased shares (per tranche), unvested RSU grants (per grant).

Field	How to Calculate
Initial Value (INR)	Cost basis (acquisition price) × SBI TTBR on the exact acquisition date (CBDT's Schedule FA filing instructions). For ESPP where the discount was taxed as a perquisite, use FMV on the purchase date.
Peak Value (INR)	Highest value during Fidelity's Jan–Dec period × SBI TTBR on the peak month-end date.
Closing Value (INR)	Market value on Dec 31 × SBI TTBR on Dec 31.
Total Income (INR)	Dividends attributable to this equity during the FY × SBI TTBR on each dividend date (CBDT's Schedule FA filing instructions).
Date of Acquiring	Vesting date (RSUs), purchase date (ESPP), original grant date (unvested RSUs)

Vested RSU Shares (held) Entity: ServiceNow Inc (NOW)
Nature: Equity shares — X shares held in custodial account
Acquiring date: Date of first vesting or leave blank

ESPP Purchased Shares Entity: ServiceNow Inc (NOW)
Nature: ESPP shares — purchased DD Mon YYYY @ $X (FMV $Y)
Acquiring date: ESPP purchase date

Unvested RSUs (per grant) Entity: ServiceNow Inc (NOW)
Nature: Unvested RSU — X units, Grant GXXXXX
Acquiring date: Original grant date

This is the step people get wrong or give up on. Upload your CSVs and every Table A3 row — initial, peak, closing value — is computed for you.

Table F — Foreign Trusts (discretionary)

Include if your employer uses Fidelity Stock Plan Services LLC as a trustee for your stock plan (common for US-listed employers). Some CAs include it, others don't — disclose to be safe.

Trust Name: Fidelity Stock Plan Services LLC Participant Trust
Trustee: Fidelity Stock Plan Services LLC
Trustee Address: 82 Devonshire Street, Boston, MA 02109, USA

Settlor (Employer): Your employer (e.g. ServiceNow Inc)
Country: United States (US)
Creation Date: Date of first grant/award (approximate)

Step 3 — Fill ITR-2 on the Income Tax Portal

Navigate to Schedule FA

Go to incometax.gov.in → Login → e-File → Income Tax Returns → File Income Tax Return
Select Assessment Year (e.g. AY 2026-27 for FY 2025-26)
Select ITR-2 (not ITR-1)
In the ITR form, scroll to "Schedule FA — Details of Foreign Assets and Income from any source outside India"

Table A2 — Filling Each Row

Click "Add" in Table A2
Country Name: United States | Country Code: US
Name of Institution: Fidelity Investments (NetBenefits)
Address: 82 Devonshire Street, Boston, MA 02109, United States
ZIP Code: 02109 (Fidelity's ZIP)
Account Number: Your Fidelity participant number (e.g. I02483034)
Status: Active
Account Opening Date: the date your Fidelity account was opened (DD/MM/YYYY)
Nature of Ownership: Beneficial Owner
Peak Balance: Enter computed INR value (integer, no decimals)
Closing Balance: Dec 31 value in INR (Fidelity accounting period end)
Gross Amount Paid/Credited: Dividends + money market income in INR
Gross Proceeds: Sale proceeds during FY in INR (0 if no sales)
Repeat for ESPP Plan Account if applicable

Table A3 — Filling Each Row

Click "Add" in Table A3 for each equity interest
Country Name: United States | Country Code: US
Name of Entity: ServiceNow Inc (NOW) — the stock issuer, not Fidelity
Address of Entity + ZIP Code: the company's registered address (e.g. 2225 Lawson Lane, Santa Clara, CA — 95054)
Nature of Entity: Brief description (see computed values above)
Date of Acquiring: In DD/MM/YYYY format
Initial Value, Peak Value, Closing Value: INR integers
Total Income: INR integer
Nature of Income: Dividend or blank if 0
Repeat for each holding (vested shares, each ESPP tranche, each RSU grant with unvested units)

How to use the outputs: The ITR portal imports a complete return JSON, not a single schedule, so there is no "upload only Schedule FA" option. Use the Excel to copy each value straight into the Schedule FA fields on the portal. The JSON is a structured export for your CA's software or your own records.

Step 4 — Verify and Submit

Before Submitting — Cross-check

RSU perquisite income in Schedule FA matches Form 16 Part B (Perquisites)
Capital gains from RSU/ESPP sales match Schedule CG
Dividend income in Schedule FA matches Schedule OS (Other Sources)
US taxes withheld claimed in Schedule TR (Tax Relief)
All INR values are integers (no decimals — portal rejects them)
Country code is US not USA

DTAA Relief (Avoid Double Taxation)

India-US Double Taxation Avoidance Agreement (DTAA) allows credit for US taxes paid. In the ITR:

Schedule TR: Enter US federal taxes withheld on RSU income / dividends
Claim credit up to Indian tax liability on the same income
NRA withholding (30%) shown in the Transaction History CSV
Only federal tax is creditable — not state tax

After Submitting

e-Verify within 30 days (Aadhaar OTP, net banking, DSC)

Keep records 8+ years (16 years for foreign asset cases)

Save: Fidelity CSVs & statements, SBI TTBR rate screenshots, computation workings

Using This Tool (Faster Method)

This tool automates Steps 2 and 3 — it computes all values from your Fidelity CSV exports and generates the JSON + Excel files for you.

1. Upload CSVs
Open Lots + Transaction History (+ Closed Lots)

2. Verify Rates
Auto-fetched SBI TTBR rates, override if needed

3. Download Excel + JSON
Excel for filing; JSON for your CA / records

4. Enter in ITR Portal
Copy the Excel values into Schedule FA

Upload Fidelity CSVs Now

Frequently Asked Questions

Yes. Unvested RSUs represent a beneficial interest in foreign equity. You must disclose them in Table A3 even though you don't legally own the shares yet. The disclosure value is the market value of the unvested units (quantity × market price on Dec 31, converted at SBI TTBR).

Yes if the account was open during the calendar year, even with zero closing balance. You must report gross proceeds from the sales in Table A2. The account "existed" during the year. The account status can be "Inactive" if closed by Dec 31.

The closing balance is the Dec 31 value — the end of Fidelity's Jan–Dec accounting period. Convert it using the SBI TTBR on Dec 31 itself, per CBDT's Schedule FA filing instructions (nearest preceding working day if Dec 31 is a holiday). Income-tax Rule 115's preceding-month rate applies to computing salary/dividend/capital-gains income, not Schedule FA disclosure. Check SBI historical forex rates.

Yes — they are separate accounts. The Stock Plan Account (brokerage, where vested shares are held) and the ESPP Plan Account (where payroll contributions accumulate until purchase) are two distinct custodial accounts and each gets a separate row in Table A2.

Yes, under the India-US DTAA. The US taxes withheld (shown on your US W-2 or 1042-S) can be credited against Indian tax on the same income in Schedule TR. Only federal withholding counts — not state income tax. The credit is limited to the Indian tax on that income (you can't get a refund from India for excess US tax).

File a revised / belated return as soon as possible for any open assessment year. For past years beyond the revision window, consider approaching a CA about filing a voluntary disclosure. The Black Money Act has a voluntary compliance provision — proactively disclosing before a notice is issued results in lower penalties than being caught. Do not delay.

How to File Schedule FA — Complete Guide