To fill Schedule FA from an Interactive Brokers (IBKR) account, run an Activity Statement for the calendar year, 1 January to 31 December. It gives you closing values, dividends, interest and sale proceeds. Peak value needs daily values, which an Activity Flex Query can produce. Convert every figure to rupees at the SBI telegraphic transfer buying rate (TTBR) on the dates the Schedule FA instructions set, not at IBKR's own exchange rate.
Table of contents
- Which IBKR reports do you need for Schedule FA?
- How far back can you get IBKR statements?
- What goes in Table A2 (the IBKR account)?
- What goes in Table A3 (each holding)?
- How do you work out peak value from IBKR data?
- Which exchange rate do you use?
- How to check an auto-filled Schedule FA report
Which IBKR reports do you need for Schedule FA?
Three reports cover almost everything:
| Report | What it gives you for Schedule FA |
|---|---|
| Activity Statement, custom date range 1 January to 31 December | Opening and closing net asset value, open positions on 31 December, trades, dividends, withholding tax, interest, deposits and withdrawals |
| Activity Flex Query with Open Positions, Prior Period Positions, Trades and Cash Transactions | Daily position values (for peak value), acquisition dates and cost for each lot, dividends and withholding tax by date |
| Tax documents for non-US account holders | US tax withheld on dividends, which you need to claim foreign tax credit |
The Activity Statement is IBKR's main report and the only default statement that supports a calendar-year period (IBKR statements guide). A Flex Query is a custom report where you pick the sections and fields you want, and download it as a spreadsheet or XML file.
Note: Run the Activity Statement for 1 January to 31 December, not the Indian financial year. Schedule FA follows the calendar year, while capital gains and dividends in the rest of the return follow April to March, so you may need both periods.
How far back can you get IBKR statements?
IBKR keeps statements online for limited periods (IBKR statements guide):
| Statement type | Available online for |
|---|---|
| Daily | Two prior years and the current year to date |
| Custom date range | Two prior years and the current year to date |
| Monthly | 36 months |
| Annual | The past three years |
If you are fixing older missed years, as many people are before the FAST-DS deadline of 31 December 2026, request archived statements from IBKR early. For how to fix past years, see how to fix missed Schedule FA years.
What goes in Table A2 (the IBKR account)?
Table A2 is for foreign custodial accounts, so your IBKR account itself goes here, once, whatever it holds. For more on how the tables fit together, see the Schedule FA guide.
| Table A2 field | Where to find it in IBKR |
|---|---|
| Country, name and address of institution, ZIP code | The IBKR entity and address printed on your Activity Statement |
| Account number | Top of the Activity Statement |
| Status | Owner, for an account in your own name |
| Account opening date | Account details in IBKR's settings, or your first statement |
| Peak balance during the period | Highest daily account value in the calendar year (see the peak value section) |
| Closing balance | Net asset value on 31 December, from the Activity Statement |
| Gross amount paid or credited | Dividends, interest and sale proceeds credited during the year, from the Activity Statement |
Note: The instructions do not say whether an account's peak balance means cash only or the whole account value. Many filers use the account's highest net asset value. Whichever you use, use it the same way every year.
What goes in Table A3 (each holding)?
Table A3 is for foreign equity and debt interest, so every share or ETF you held at any time in the calendar year gets its own row, including ones you sold before 31 December.
| Table A3 field | Where to find it in IBKR |
|---|---|
| Country, name and address of entity, ZIP code | The company or fund's own details, not IBKR's |
| Nature of entity | Company, or fund for an ETF |
| Date of acquiring the interest | Trade date of the first buy, from Trades in the Flex Query |
| Initial value of the investment | Cost of the buy, from Trades |
| Peak value of investment during the period | Highest daily value of that holding in the calendar year, from Prior Period Positions in the Flex Query |
| Closing value | Value on 31 December, from Open Positions; nil if sold during the year |
| Total gross amount paid or credited | Dividends on that holding, gross before withholding tax, from Cash Transactions |
| Total gross proceeds from sale or redemption | Sale value, from Trades |
Two details trip people up:
- For an ETF, the country is where the fund is domiciled, not where it trades. A UCITS ETF bought on the London Stock Exchange is usually an Irish fund, so the country is Ireland. The first two letters of the ISIN (IE for Ireland, US for the US) tell you. For why so many UCITS ETFs are Irish, see what are UCITS.
- Dividends are reported gross. Enter the dividend before US withholding tax. The tax withheld is claimed separately as foreign tax credit, through Form 67 for FY 2025-26 and earlier and Form 44 from Tax Year 2026-27.
How do you work out peak value from IBKR data?
Peak value is the highest value a holding reached on any day in the calendar year. IBKR does not report it as a single figure, so you build it from daily values:
- Create an Activity Flex Query with the Prior Period Positions section, which lists the value of each position for each day in the period.
- Run it for 1 January to 31 December and download it as a spreadsheet.
- For each holding, find the day with the highest value. That figure, in the holding's currency, is its peak value.
- Note the date, because the exchange rate for peak value is the rate on that date.
For the account's peak balance in Table A2, do the same with the account's total value for each day.
Note: Month-end statements are not enough. A holding's peak can fall in the middle of a month, and a month-end figure will understate it.
Which exchange rate do you use?
Convert every Schedule FA figure at the SBI telegraphic transfer buying rate (TTBR), not at IBKR's own conversion rate or the RBI reference rate. The ITR instructions set the date for each figure: the date of peak balance, the date of investment, or the closing date of the period (CBDT guide to Schedules FA, FSI and TR):
- Peak value or peak balance: the TTBR on the date the peak occurred.
- Closing value or closing balance: the TTBR on 31 December.
- Initial value: the TTBR on the date of investment, which for RSU shares is the vesting date.
- Income credited and sale proceeds: the TTBR on 31 December, the closing date of the period.
Example. Suppose you held 40 units of a US-listed ETF through all of 2025 in your IBKR account, bought in March 2024 for $16,000. Their highest daily value in 2025 was $22,400. They were worth $21,000 on 31 December 2025. They paid $280 of dividends, with $70 of US tax withheld.
| Table A3 field | IBKR source | Figure in USD | Rate date |
|---|---|---|---|
| Date of acquiring | Trades | March 2024 | |
| Initial value | Trades (cost of the buy) | $16,000 | TTBR on the buy date in March 2024 |
| Peak value | Prior Period Positions | $22,400 | TTBR on the peak date |
| Closing value | Open Positions | $21,000 | TTBR on 31 December 2025 |
| Total gross amount credited | Cash Transactions (dividends, gross) | $280 | TTBR on 31 December 2025 |
| Total gross proceeds from sale | Trades | Nil |
The result: one Flex Query and one Activity Statement give every Table A3 figure for this holding
The $70 withheld does not reduce any Schedule FA figure. It is claimed as foreign tax credit, and the $280 gross dividend is also reported as income for the financial year in which it was received.
How to check an auto-filled Schedule FA report
Many platforms and tax tools now produce a Schedule FA report for you. It saves time, but the return is yours, so check it against your statements before you copy it in. Work through these nine checks:
- The period is the calendar year. The report should run from 1 January to 31 December, not April to March.
- The exchange rate is the SBI TTBR. Some reports use the RBI reference rate or the platform's own rate. Ask the platform which rate and dates it uses.
- Both tables are there. The account belongs in Table A2 and each holding in Table A3. A report that fills only one is incomplete.
- Holdings you sold are listed. Anything held at any time in the year needs a row, with a closing value of nil if sold.
- Peak value comes from daily values. Check one holding yourself. If the report's peak equals a month-end value, it may be understated.
- Initial value matches your cost. For RSU shares, it should match the vesting value taxed in your Form 16.
- Dividends are gross. The dividend figure should be before withholding tax, and should match what you report as income and claim as foreign tax credit.
- ETF countries are fund domiciles. An Irish-domiciled UCITS ETF should show Ireland, not the UK or the exchange's country.
- It matches AIS. Compare the accounts and holdings with the Foreign Assets Information in your AIS. If AIS shows something the report does not, find out why before you file.
Note: If a past report was wrong and you filed from it, the gap is a missed Schedule FA year. For what to do about it, see what to do after the FAST-DS email.
About Paasa
Paasa is a global investing platform built for Indian and Asian investors. It gives anyone direct access to stocks, ETFs and UCITS funds on their home exchanges across the US, Canada, the UK, Germany, France, Switzerland, the Netherlands, South Korea, Japan, Hong Kong and Singapore.
- Interactive Brokers as custodian: a Paasa account is held in your own name with Interactive Brokers as custodian, and you get read-only access to its statements, so the reports in this guide apply to your Paasa holdings too.
- Every market in one statement: US, European and Asian holdings, including UCITS ETFs, sit in one account, so Schedule FA figures come from one set of reports.
- A dedicated relationship manager: one point of contact for questions about your statements at filing time.
