<p>I recently found out more about a piece of property and building my parents have in their home country. I already knew they owned this, but recently I found out that (in my dad's words) it "isn't on record here" (in the U.S.). I asked them a little more about this because I don't want to be an accessory to what I think might be fraud (but I don't know what the specifics are, so it might be legal — I'm not sure), but they won't tell me much more about it. I can't even file this on the fafsa because I don't even know the amount they're making or if they're even making anything... I have no idea about the specifics of this, I just know they own a building and property making money from. I am very worried and afraid, what should I do? Do I report this? Please help.</p>
<p>If they report the income on their US taxes, than you probably have to report it? If its not reported than i don’t know.</p>
<p>I’m not sure what they mean by “it’s not on record” but I’m pretty sure it means they don’t put it on their tax form, the money isn’t kept here, etc. I don’t know how the money is transferred here or if it even is. I really don’t want this on my conscience, and I don’t want to be jailed or anything. A few months ago when I was filing the fafsa I asked them about the property and they said just not to put it, now I’m understanding why more.</p>
<p>Ooh college…it doesn’t matter whether the property is declared on their tax form or not…that is a whole other issue. If the family owns property in their name, in addition to their primary residence, the equity in that property must be included on the FAFSA. It could be on the moon…doesn’t matter.</p>
<p>I wasn’t talking about the property but rather the income generated from it. Also depending on the country, the OP does not have to report the property if the US does not about it. I am not condoning doing this and I do not know the legality of this.</p>
<p>Should I ask my parents more about this? I’m very worried.</p>
<p>sorry Oooh…but the student DOES have to report the equity in the property on the FAFSA. It is required. If the student gets need based aid based in a fraudulent FAFSA, he would risk losing his offer of admission, need to to repay any aid received back, and could be subject to a fine as well. </p>
<p>The FAFSA is the student’s form. It is prudent for it to be filled out honestly. </p>
<p>I asked them and cleared it up with them, I was just confused about something apparently. The property is my mom’s sister’s not hers. Wow I am relieved!</p>