Form 8938

Statement of Specified Foreign Financial Assets

U.S. taxpayers that live outside of the U.S. that are holding an aggregate value of assets exceeding $300,000 at any time during the year or $200,000 on the last day of the year will report information about foreign assets on tax form 8938. If filing a joint return, the thresholds are $600,000 at any time during the year or $400,000 on the last day of the year. The thresholds are lower for taxpayers residing in the U.S. These assets include any bank, investment, and retirement accounts maintained outside of the U.S. as well as foreign stock, interest in a foreign entity and any foreign financial instrument.

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