FBAR, Pension & ISA questions

Hello all,

I have several questions that could use some feedback:
1. On the FBAR, would an account with Interactive Brokers be considered a foreign account or not? How does one determine if UK or US account? (Well, I suppose contacting them and asking would work)
2. If I were to mistakenly contribute to an employer pension more than $53k for the US 2016 tax year, but less than £40k for the 2016-17 UK tax year and it is too late to change that, what is the best way to handle it?
3. Is there a consensus on whether or not investing in a Shares & Stock ISA is OK for the US (equivalent of IRA), if the funds are invested in what is considered US-based UK reporting funds?

Thanks for the feedback

Just trying to be helpful, and I'm in no way an expert, so please take my replies with a grain of salt:

1) I should think that if it's set up in the UK, then it's a foreign account.  When you opened your account, did the paperwork mention the FCA (UK) or the SEC (US)? Or perhaps more obviously, are you paying for purchases in £'s or $'s via their platform.

2)Sorry, no idea!

3)My understanding is that as long as the funds in the ISA are actually registered with the SEC and have reporting status with the HMRC, then you should be fine.  That seems to be the consensus here and on other boards I've visited. Of course, Uncle Sam will still want his CGT on those funds, even if HMRC has said she's not bothered. 

1)...you've answered you own question. Call them or just see who regulates them

2) Are you asking about contribution limits here? For US tax purposes if you don't use the treaty there is no limit to foreign pension contributions because you declare them as US taxable income ad use deductions and FTCs to defray the US tax bill.

3) The ISA wrapper is irrelevant for US tax purposes, so you just apply the usual rules for a US investor....avoid PFICs, individual stocks are ok. You will have to pay US tax on any dividends or capital gains so you need to keep careful records.