Comparison of Form 8938 and FBAR Requirements ZMB Tax Consultants
Form 8938 Filing Requirements. Web information about form 8938, statement of foreign financial assets, including recent updates, related forms and instructions on how to file. Web refer to form 8938 instructions for more information on assets that do not have to be reported.
Comparison of Form 8938 and FBAR Requirements ZMB Tax Consultants
Retirement assets maintained at foreign institutions. 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. 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 Bonds issued by a foreign company. Form 8938 threshold & requirements. 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. You must file form 8938 if: 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 refer to form 8938 instructions for more information on assets that do not have to be reported. Web find out if you need to file irs form 8938 with the expat tax preparation experts at h&r block.
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 if you are required to file form 8938, you must report your financial accounts maintained by a foreign financial institution. You must file form 8938 if: Taxpayers who meet the form 8938 threshold and are required to file a tax return will also be required to include specified foreign asset reporting with their tax return. You are a specified person (either a specified individual or a specified domestic entity). Web we have prepared a summary explaining the basics of form 8938, who has to file, and when. 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. 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). Any level of ownership in a foreign business entity or trust. Web refer to form 8938 instructions for more information on assets that do not have to be reported. Web you must file form 8938 if you must file an income tax return and:
