specified foreign financial asset

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 6038D — for purposes of this section (2 versions over time)

For purposes of this section, the term “specified foreign financial asset” means—

(1) any financial account (as defined in section 1471(d)(2)) maintained by a foreign financial institution (as defined in section 1471(d)(4)), and

(2) any of the following assets which are not held in an account maintained by a financial institution (as defined in section 1471(d)(5))—

(A) any stock or security issued by a person other than a United States person,

(B) any financial instrument or contract held for investment that has an issuer or counterparty which is other than a United States person, and

(C) any interest in a foreign entity (as defined in section 1473).