Form 8938 Filing Requirements. Web if you are required to file form 8938, you must report the specified foreign financial assets in which you have an interest even if none of the assets affects your tax liability for the year. One of the most confusing parts of filing taxes as an expat is knowing which forms you have to fill out and what income you need to report.
Form 8938 Meadows Urquhart Acree and Cook, LLP
You must file form 8938 if: Examples of financial accounts include: Bonds issued by a foreign company. You are a specified person (either a specified individual or a specified domestic entity). Web information about form 8938, statement of foreign financial assets, including recent updates, related forms and instructions on how to file. Web you must file form 8938 if you must file an income tax return and: Web review a chart comparing the foreign asset types and filing requirements for form 8938 and the foreign bank and financial accounts (fbar) form. Form 8938 threshold & requirements. The form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file fincen form 114 (report of foreign bank and financial accounts). Web refer to form 8938 instructions for more information on assets that do not have to be reported.
Use form 8938 to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold. One of the most confusing parts of filing taxes as an expat is knowing which forms you have to fill out and what income you need to report. Web review a chart comparing the foreign asset types and filing requirements for form 8938 and the foreign bank and financial accounts (fbar) form. Web taxpayers generally have an obligation to report their foreign asset holdings to the irs on form 8938, statement of specified foreign financial assets, and to the financial crimes enforcement network (fincen) on fincen form 114, report of foreign bank and financial accounts (fbar). Examples of financial accounts include: You are unmarried and the total value of your specified foreign financial assets is more than $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year Web refer to form 8938 instructions for more information on assets that do not have to be reported. Web if you are required to file form 8938, you must report your financial accounts maintained by a foreign financial institution. Web information about form 8938, statement of foreign financial assets, including recent updates, related forms and instructions on how to file. See specified individual, specified domestic entity,. The form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file fincen form 114 (report of foreign bank and financial accounts).
