Johnathon is the signatory authority of a financial account held in the United Kingdom. In addition to his regular income, he also receives a combined total of $1,200 in domestic interest and dividend income. Which statement accurately reflect his tax situation?

Select one:

a. He must send a letter to the IRS identifying his account ownership and report the interest and dividend income straight on his tax return.

b. He is required to file a FinCen 114 to report the interest and dividend income.

c. He is required to file a Schedule B and complete Part III to indicate his foreign account authority despite the interest and dividend income being under the Schedule B requirement threshold.

d. He handles any foreign account tax issue with the U.K. and simply reports the interest and dividend income on his return directly on the tax form.