How to File Schedule FA — Schedule FA Generator

Overview

Step 1

Gather documents

Step 2

Compute values

Step 3

Fill ITR-2 portal

Step 4

Verify & submit

Step 1 — Gather Required Documents

From Fidelity NetBenefits

Year-End Investment Report — main document
Login → Statements → Annual Statement → select year → Download PDF
Custom Transaction Summary (NRA participants only)
Login → Statements → Tax Documents → Custom Transaction Summary → set date range Apr 1 – Mar 31 → Download PDF

Year-End covers Jan 1 – Dec 31. For Indian FY 2025-26, download the 2025 annual statement.

SBI TTBR Exchange Rates

Indian law requires SBI Telegraphic Transfer Buying Rate (TTBR) for USD→INR conversion. The rate to use:

Rule: Use the SBI TTBR rate on the last working day of the month immediately preceding each transaction date.
Example: RSU vested Feb 7 → use Jan 31 SBI TTBR rate.

Look up historical rates at: SBI Forex Rates or use RBI reference rates as a starting point.

Our tool auto-fetches ECB reference rates (close to SBI TTBR). You can override any rate.

Other Information Needed

Account balance on March 31
Log into Fidelity and note the account value on exactly March 31 of your FY end. This is the correct closing balance — not Dec 31.

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)	Max account value during the Indian FY × SBI TTBR rate for Mar 31 of prior year. Use max(Apr 1 balance, Mar 31 balance) as minimum estimate.	$60,431 × 86.50 = ₹52,27,283
Closing Balance (INR)	Account value on March 31 × SBI TTBR rate for Feb 28/29	$53,620 × 85.70 = ₹45,95,234
Gross Income (INR)	Dividends + money market income credited during Indian FY × rate for Dec 31 of preceding month	$46.13 × 84.50 = ₹3,898
Gross Proceeds (INR)	Total sale proceeds received during Indian FY (Apr–Mar) × SBI TTBR rate for preceding month-end. Found in Custom Transaction Summary.	$51,860 × 85.20 = ₹44,18,472

Table B — 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 (your purchase / acquisition price) × SBI TTBR on last day of month preceding acquisition date
Peak Value (INR)	Highest value during Indian FY. Approximate: use Dec 31 or Mar 31 value × appropriate rate (whichever is higher)
Closing Value (INR)	Market value on March 31 × SBI TTBR for Feb 28/29
Total Income (INR)	Dividends attributable to this equity during the FY × SBI TTBR on preceding month-end of dividend date
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

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
Account Number: Your Fidelity participant number (e.g. I02483034)
Status: Active
Nature of Ownership: Beneficial Owner
Peak Balance: Enter computed INR value (integer, no decimals)
Closing Balance: March 31 value in INR
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 B — Filling Each Row

Click "Add" in Table B for each equity interest
Country Name: United States | Country Code: US
Name of Entity: ServiceNow Inc (NOW)
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)

JSON Upload: Instead of filling each field manually, you can upload the JSON file generated by this tool directly in the ITR portal under the "Upload" option in Schedule FA. This saves 20–30 minutes of manual data entry.

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 Custom Transaction Summary
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 PDFs, 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 PDFs and generates the JSON + Excel files for you.

1. Upload PDFs
Year-End Report + Custom Transaction Summary

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

3. Download JSON + Excel
ITR-portal-ready JSON file

4. Upload to ITR Portal
Use JSON upload in Schedule FA

Upload Fidelity Report Now

Frequently Asked Questions

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

Yes if the account was open during the 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 March 31.

Use the SBI TTBR (Telegraphic Transfer Buying Rate) on the last working day of February (the month preceding March). Typically Feb 28 or 29. 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