IRS 8938 2021-2025 free printable template

15 Number of Forms 3520 For Paperwork Reduction Act Notice see the separate instructions. Cat. No. 37753A Form 8938 Rev. 11-2021 Page 2 Part V Detailed Information for Each Foreign Deposit and Custodial Account Included in the Part I Summary see instructions If you have more than one account to report in Part V attach a separate statement for each additional account. Number of custodial accounts reported in Part V. b Tax item e f g Interest Dividends Royalties Other income Gains losses...

How to fill out fincen form 114

How to fill out IRS 8938

1. Gather all required information about your foreign financial assets, including accounts, stocks, and other investments.
2. Fill out your personal information at the top of the form, including your name, Social Security number, and address.
3. In Part I, list each foreign financial asset including the name, address, and type of institution where it's held.
4. Indicate the maximum value of each asset during the tax year in Part II.
5. If you are reporting any foreign assets held jointly with others, disclose these in the appropriate section.
6. Complete any additional sections relevant to your specific situation, such as those covering specific types of foreign financial assets.
7. Review all the information for accuracy and completeness before submitting the form along with your tax return.

Who needs IRS 8938?

1. U.S. taxpayers who have specified foreign financial assets exceeding certain thresholds need to file Form 8938.
2. Individuals living abroad with foreign assets, as well as married couples filing jointly with combined assets over the limit.

• What is IRS Form 8938 2024?
• Who must file Form 8938 2024?
• • What information do I need to complete Form 8938?
  • How do I fill out Form 8938 in 2025?
  • Is 8938 Form accompanied by other forms?
  • When is IRS Form 8938 due?
  • Where do I send 8938 Form?

What is IRS Form 8938 2024?

Form 8938 is used to disclose all foreign financial assets specific individuals or entities (defined by IRS) hold outside of the USA. However, foreign financial assets are a collective notion. The IRS singles out a few asset types. They are as follows:

• Accounts held in a financial institution outside the USA
• Foreign stocks and bonds
• Interest in a foreign organization or corporation
• Contracts that include non-US counterparties
• Personal residences
• Any financial documentation

In addition, form 8938 is often confused with FinCEN Form 114 (FBAR). The main difference is that the latter must be filed with the US Treasury and not the IRS. Visit the IRS website to check the extensive 8938 vs. FBAR comparison.

Who must file Form 8938 2024?

Everyone who holds financial assets outside the United States or has a connection with foreign entities must fill out the document. One of the essential Form 8938 filing requirements is that the total value of all foreign assets should exceed the particular threshold, which differs depending on the taxpayer’s type. You can learn more about the Form 8938 threshold in 2025 for every taxpayer type on the IRS website.

What information do I need to complete Form 8938?

8938 Form is complicated, with four parts that must be completed. Before filling out each section of the form, individuals should complete the fields with their identification information and define which type of filer they are.

Each part of the form accounts for a particular type of foreign asset such as financial accounts, stocks, bonds, etc.

How do I fill out Form 8938 in 2025?

Before completing IRS Form 8938, read it over carefully and check the latest Form 8938 instructions. To save time and resources, you can fill out the form online with pdfFiller. Follow these steps to efficiently complete your form online:

1. Scroll up and click the Get Form button.
2. Follow the green pointer and start filling out all the required fields.
3. To complete the document, use the various annotation and editing tools, such as checkmarks, circles, and crosses.
4. Review the document and check for errors and typos.
5. Click Done to finalize the process and download the form.
6. Select the option to send the form via USPS in your Dashboard if you prefer to send it via mail.

Is 8938 Form accompanied by other forms?

Initially, Form 8938 was part of FATCA (Foreign Account Tax Compliance Act). According to the regulations, an individual fills out Form 8938 and attaches it to their annual return, which may be one of the following: Form 1040, Form 1040NR, Form 1041, etc.

When is IRS Form 8938 due?

The form should be sent to the IRS only when attached to the annual return or amended return by April 18th, 2025.

Where do I send 8938 Form?

Send the form and the annual income return to the IRS.

Video instructions and help with filling out and completing form 8938

Instructions and Help about fincen 114 form

Okay for this video I wanted to cover a sample 8938 filing now the 8938 is a statement of specified foreign financial assets, so generally this needs to be filed if you as a U.S. person, so that's a U.S. individual taxpayer or if you have certain types of U.S. entities so U.S. corporations partnerships need to file this disclosure if you as the beneficial owner have foreign financial assets right and those foreign financial assets have to exceed certain thresholds during the year and if they do then you need to file this form with your tax return okay, so I've got one sample in front of us here that we'll walk through and then a slide here with some rules and filing thresholds and then the fact pattern that we're going to be working with so if we start at the top here and just kind of work our way down again just to reiterate the 8938 filed by us persons that have a beneficial interest in foreign financial assets, so these are foreign bank accounts uh foreign investments and stocks and other securities bonds um if you have direct interest in foreign entities right so...

People Also Ask about 8938 form

Who must file Form 8938?

To get into the nitty gritty of it, if you're a U.S. taxpayer who lives outside of the U.S. and holds a total combined value of foreign assets worth more than $300,000 at any time during the year (or $200,000 on the last day of the year) you need to report it on Form 8938.

What is IRS Form 8938 and who needs 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.

How is Form 8938 different from FBAR?

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). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS.

Who must file form 8938?

To get into the nitty gritty of it, if you're a U.S. taxpayer who lives outside of the U.S. and holds a total combined value of foreign assets worth more than $300,000 at any time during the year (or $200,000 on the last day of the year) you need to report it on Form 8938.

What is the IRS threshold for 8938?

Specified Domestic Entities: 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.

What is the difference between FBAR and form 8938?

Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly with the office of Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, separate from the IRS.

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What is IRS 8938?

IRS 8938 is a form used by certain U.S. taxpayers to report specified foreign financial assets, as required under the Foreign Account Tax Compliance Act (FATCA).

Who is required to file IRS 8938?

Taxpayers who have an interest in specified foreign financial assets and meet certain thresholds for the total value of those assets must file IRS 8938.

How to fill out IRS 8938?

To fill out IRS 8938, you must provide information about your foreign financial assets, including account numbers, names and addresses of foreign institutions, asset types, and their maximum values during the tax year.

What is the purpose of IRS 8938?

The purpose of IRS 8938 is to ensure that U.S. taxpayers report their foreign financial assets and comply with the tax obligations imposed by the IRS and FATCA.

What information must be reported on IRS 8938?

Taxpayers must report the total value of specified foreign financial assets, including bank accounts, securities, partnership interests, and other foreign investments, along with details about each asset.