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. Form 8938.

Can a gold certificate be reported on Form 8938?

Note, however, that gold certificates issued by a foreign person may be a specified foreign financial asset that you would have to report on Form 8938, if the total value of all your specified foreign financial assets is greater than the reporting threshold that applies to you. Q5 .

Do you have to file Form 8938 if you do not have an income tax return?

If you do not have to file an income tax return for the tax year, you do not need to file Form 8938, even if the value of your specified foreign assets is more than the appropriate reporting threshold. If you are required to file Form 8938, you do not have to report financial accounts maintained by:

When to use statement of specified foreign financial assets?

About Form 8938, Statement of Specified Foreign Financial Assets. 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.

When is the reporting period for Form 8938?

General Instructions Reporting Period. Unless an exception applies, the reporting period for Form 8938 is your tax year. If you are a… Reporting Maximum Value. You must report the maximum value during the tax year of each specified foreign financial asset… Assets Not Required To Be Reported. You …

Note, however, that gold certificates issued by a foreign person may be a specified foreign financial asset that you would have to report on Form 8938, if the total value of all your specified foreign financial assets is greater than the reporting threshold that applies to you.

Do you have to be a US citizen to file Form 8938?

In addition, it also matters whether the taxpayer is residing within the United States or in a foreign country (The threshold requirements for filing form 8938 are higher for foreign residents)

What do you call statement of specified foreign financial assets?

What is Form 8938? Officially called your Statement of Specified Foreign Financial Assets, Form 8938 one of the forms expats use to tell the IRS about financial assets they hold abroad.