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Old 21.06.2012, 12:41
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reporting 2. pillar (2. Säule) on TD F 90-22.1???

I am unable to find a clear answer, maybe someone can help me here:

Do we need to report the total VALUE of the 2. Pillar, hold by an insurance?

I am not making any contributions at the moment, since I am not earning much.
But the VALUE increases every year.

Do I need to report the total amount on the TD F 90-22.1?

Do I need to report the increased value somewhere?

Thank you very much for any insights!
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Old 21.06.2012, 12:51
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

This has come up a few times.

A lot of people debate whether they should, shouldnt, and debate reasons for and against.

My advice is always report everything. Afterall, it is a reporting obligation only. No tax!

If it turns out it does not need reporting, then fine, no problem, you covered your bases. If it does need reporting, and you havent reported it, you can be liable to penalties up to 10,000 USD. Ok, its unlikely this would happen you could say, and you could argue non-wilful and thus assess lower penalty application for non-willful but just report and be done it with it. Much less time, hassle and worry.

And I do hope you are reporting your employers contribution as income on the tax return too.
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Old 21.06.2012, 13:24
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

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This has come up a few times.

A lot of people debate whether they should, shouldnt, and debate reasons for and against.

My advice is always report everything. Afterall, it is a reporting obligation only. No tax!

If it turns out it does not need reporting, then fine, no problem, you covered your bases. If it does need reporting, and you havent reported it, you can be liable to penalties up to 10,000 USD. Ok, its unlikely this would happen you could say, and you could argue non-wilful and thus assess lower penalty application for non-willful but just report and be done it with it. Much less time, hassle and worry.

And I do hope you are reporting your employers contribution as income on the tax return too.

And here's another reason not to work while here, and remain a SAHM!
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Old 21.06.2012, 13:31
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

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And here's another reason not to work while here, and remain a SAHM!

What? That you will have to report income on your tax return?
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Old 21.06.2012, 20:58
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

I found a FBAR customer support number 866-270-0733 (toll-free inside the U.S.) or 313-234-6146 (not toll-free, for callers outside the U.S.).

The person I got on the phone told me I have to report all pensions accounts.
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Old 21.06.2012, 21:47
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

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I found a FBAR customer support number 866-270-0733 (toll-free inside the U.S.) or 313-234-6146 (not toll-free, for callers outside the U.S.).

The person I got on the phone told me I have to report all pensions accounts.
Funny...

I called the same number and explained to them the nature of the Swiss 2nd Pillar system, that it was a government-mandated but company administered pension fund that I must have by law while employed and that I have no control over the money going in or coming out unless I were to:

-Become Handicapped (which I am not)
-Buy Real-Estate (which I have not)
-Leave Switzerland (in effect a deposit in a Freizügigkeitskonto, which I have not and do not intend to for a long time)
-Retire (which won't happen for a long time).

The response I got from the FBAR hotline was "If you don't control it, you don't report it".
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Old 22.06.2012, 00:55
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

So ... you are saying that if the money is in a Freizügigkeitskonto, I should report it?

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Funny...

I called the same number and explained to them the nature of the Swiss 2nd Pillar system, that it was a government-mandated but company administered pension fund that I must have by law while employed and that I have no control over the money going in or coming out unless I were to:

-Become Handicapped (which I am not)
-Buy Real-Estate (which I have not)
-Leave Switzerland (in effect a deposit in a Freizügigkeitskonto, which I have not and do not intend to for a long time)
-Retire (which won't happen for a long time).

The response I got from the FBAR hotline was "If you don't control it, you don't report it".
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Old 22.06.2012, 05:32
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

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So ... you are saying that if the money is in a Freizügigkeitskonto, I should report it?
If any of the 4 conditions above are met, I believe so. IRS and Treasury Department are not crystal clear about this.
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Old 22.06.2012, 08:45
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

I report my Freizügigkeitskonto to FBAR, but not on my tax forms (not working enough to contribute to it). Better safe than sorry.
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Old 11.05.2016, 03:50
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

According to this website, the Pillar 2 account does not need to be reported:
Do I need to report my employer provided (pillar 2) pension?
No, this does not need to be reported if it is controlled or supervised by an employer or is a traditional defined benefit plan.
However this website has a lot more info and implies that these pension accounts should be reported (I think...).

So, in the end, I don't know, but will report to be safe.
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Old 11.05.2016, 15:06
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

As far as I know the "Austrittsleistung" of the 2nd pillar is reported to the IRS on Form 8938 part VI but does not have to be reported on TD F 90-22.1 aka the FBAR.
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Old 11.05.2016, 16:07
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

Yep. We do not report 2nd pillar on FBAR.
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Old 12.05.2016, 14:17
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Re: reporting 2. pillar (2. Säule) on TD F 90-22.1???

I like to call it FUBAR
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