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FATCA Foreign Asset Reporting (Form 8938)
Form 8938 reports specified foreign financial assets on your tax return: accounts, foreign stock held directly, interests in foreign companies, funds and some insurance products.
What is included
- Threshold test for your filing status and where you live
- Asset-by-asset listing with values and income
- Reconciliation with the FBAR so the two filings agree
- Cross-reference to Forms 5471, 8621 and 3520 where those apply
Thresholds
For a single taxpayer living in the United States, Form 8938 applies when specified foreign assets exceed $50,000 on the last day of the year or $75,000 at any time during the year. The thresholds are higher for married couples filing jointly and for taxpayers living abroad.
Common questions
Is this the same as the FBAR?
No. They overlap but are separate filings with different thresholds, recipients and asset lists; many clients must file both.
Tell us your situation. We will tell you the fee.
A few short questions, a written quote within one business day, and a free 15-minute consultation if you would rather talk it through first.