Schedule FA from Charles Schwab
If your employer uses Charles Schwab for its equity plan, your RSU and ESPP shares sit in a Schwab account that must be reported in Schedule FA. Here is what to collect.
What to download
- Transaction history: in the Equity Award Center, the history of deposits (vests and ESPP purchases), sales, dividends and tax withholding can usually be exported. Export the full calendar year, plus January to March of the next year for income in the financial year.
- Equity award details: for each vest or purchase, the date, shares and fair market value used for tax.
- Year-end statement and Form 1042-S: dividends, US tax withheld, and the institution to name in Table A2.
How it maps to Schedule FA
- Table A3: one row per lot, with the acquisition date, the market value at vest or purchase as cost, the peak value in the calendar year and the 31 December value.
- Table A2: the Schwab account, with its peak and closing balance and the amounts credited.
- Capital gains: each sale, including sell-to-cover, at the Rule 115 rate. US shares are long-term only after 24 months.
- Form 67: for the 25% US tax usually withheld on dividends.
Using FA Ready with Schwab
Fill FA Ready's CSV template from your Schwab history: VEST rows for deposits at their market value, SELL rows for sales, and DIVIDEND and TAX rows for dividends and withholding. FA Ready handles the SBI rates, peak values and the portal file. A direct Schwab import is planned.