In a multiethnic community sample of 1,170 preadolescent children, it was investigated whether discrepancies in parent-child reports of internalizing problems are related with gender, ethnic background (Dutch, Surinamese/Antillean, Moroccan, Turkish, Other) and with future internalizing problems. No significant differences in discrepancy scores between boys and girls were found. Parent-child disagreement of internalizing problems varied across ethnic groups, with significant differences among children from Surinamese/Antillean (children reporting more internalizing problems than their parents) and Turkish background (parents reporting more internalizing problems than their children). Disagreement between parents and their preadolescent child significantly contributed to the prediction of self-reported internalizing problems in early adolescence. For the early identification of internalizing problems, it is recommended to include both parent and child self-reports as part of routine health examinations in the setting of preventive youth health care because when parents underreport problems relative to their child, this can predict future internalizing problems. (Contains 4 tables and 1 note.)