Get Www.irs.govforms-pubsabout-form-8938about Form 8938, Statement Of Specified Foreign Financial Assets

Filling out Form 8938, the Statement of Specified Foreign Financial Assets, is an important step for individuals with foreign financial interests. This guide provides clear, professional instructions to help users complete the form online accurately and efficiently.

Follow the steps to complete your Form 8938 with confidence.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Enter your identifying information at the top of the form, including your name and taxpayer identification number (TIN). Ensure this matches the details on your income tax return.
3. Indicate the type of filer by checking the appropriate box, specifying whether you are a specified individual or a specified domestic entity.
4. Report any foreign deposit and custodial accounts in Part I of the form. Include the maximum value of these accounts during the tax year.
5. Complete Part II for other foreign financial assets that aren't classified as deposit or custodial accounts. Provide detailed descriptions and values for each asset.
6. In Part III, summarize tax items attributable to the specified foreign financial assets, including income and deductions.
7. If applicable, fill out Part IV to indicate if any of your reported assets are excluded due to reporting on other forms, such as Form 5471 or Form 8865.
8. Review all information for accuracy and completeness before submitting. Ensure you have included all necessary additional statements if reporting multiple assets.
9. Once all sections are complete, save changes to the form, and you can download, print, or share it as needed.

Start filing your Form 8938 online today for accurate reporting of your specified foreign financial assets.