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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. See Types of Reporting Thresholds, later.
Information about Form 8938, Statement of Foreign Financial Assets, including recent updates, related forms and instructions on how to file. 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.
Find answers to basic questions about Form 8938, Statement of Specified Foreign Financial Assets.
OMB No. 1545-2195. Form. 8938. (Rev. November 2021) Department of the Treasury Internal Revenue Service. Statement of Specified Foreign Financial Assets. Go to www.irs.gov/Form8938 for instructions and the latest information. Attach to your tax return.
For tax years beginning after December 31, 2015, certain domestic corporations, partnerships, and trusts that are formed or availed of for the purpose of holding, directly or indirectly, specified foreign financial assets (specified domestic entities) must file Form 8938.
Statement of Specified Foreign Financial Assets. Go to www.irs.gov/Form8938 for instructions and the latest information. Attach to your tax return. For calendar year 2020 or tax year beginning , 2020, and ending , 20.
Form 8938, officially known as the “Statement of Specified Foreign Financial Assets,” is the document individuals and certain entities use to report their foreign financial interests to the IRS. It is filed with their annual federal income tax return if they meet certain criteria.
At a glance. Own any foreign assets? Find out if you need to file IRS Form 8938 with the expat tax preparation experts at H&R Block. 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.
A failure to timely and accurately file an IRS Form 8938 can result in significant civil penalties and open statute of limitations periods. The following provides some helpful information...
Learn how to comply with IRS rules as an expat and avoid penalties. File Form 8938 correctly to stay compliant and avoid severe consequences.