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Get Form 8938 Statement Of Specified Foreign Financial ...
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How to fill out the FORM 8938 STATEMENT OF SPECIFIED FOREIGN FINANCIAL ASSETS online
This guide provides a straightforward approach for filling out the FORM 8938, Statement of Specified Foreign Financial Assets. This form is essential for U.S. taxpayers with substantial foreign financial assets to ensure compliance with tax regulations.
Follow the steps to complete the form effectively.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Review the top of the form where you will need to provide your personal information. This includes your name, address, and taxpayer identification number.
- Indicate your filing status by selecting the appropriate checkbox to classify your filing as single or married filing jointly/separately.
- Fill in detailed information regarding your specified foreign financial assets, including foreign deposit and custodial accounts. Provide the type of account, account number, and maximum value during the year.
- Document other foreign assets. Include descriptions, identifying numbers, acquisition dates, and maximum values. Make sure to specify if assets are jointly owned.
- Review the reporting thresholds to confirm that your reported values exceed the limits that require filing. Ensure that you meet the necessary criteria based on your location and marital status.
- Once all sections are completed, save your changes. You can download, print, or share the form as needed.
Complete your FORM 8938 online to ensure compliance with tax regulations.
A specified foreign financial asset is: Any financial account maintained by a foreign financial institution. ... Other foreign financial assets held for investment that are not in an account maintained by a US or foreign financial institution, namely: Stock or securities issued by someone other than a U.S. person.
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