8938 Form 2013

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Cat. No. 37753A Form 8938 12-2013 Page 2 Name of financial institution in which account is maintained Mailing address of financial institution in which account is maintained. Number street and room or suite no. Form December 2013 Department of the Treasury Internal Revenue Service Statement of Specified Foreign Financial Assets Information about Form 8938 and its separate instructions is at www.irs.gov/form8938. Attach to your tax return* If you have attached continuation statements check here Identifying number Foreign Deposit and Custodial Accounts Summary Number of Deposit Accounts reported on Form 8938. Maximum Value of All Deposit Accounts. Number of Custodial Accounts reported on Form 8938. Were any foreign deposit or custodial accounts closed during the tax year Part II. Yes 2 Other Foreign Assets 1a 1b 1c 1d 1e 1f 1g 2a 2b 2c 2d 2e 2f 2g b Tax item Interest Dividends Royalties Other income Gains losses Deductions Credits c Amount reported on form or schedule No Summary of Tax Items Attributable to Specified Foreign Financial Assets see instructions a Asset Category Custodial Accounts Number of Foreign Assets reported on Form 8938. Attachment Sequence No* 175 Number of continuation statements Name s shown on return OMB No* 1545-2195 Where reported d Form and line e Schedule and line Excepted Specified Foreign Financial Assets see instructions If you reported specified foreign financial assets on one or more of the following forms enter the number of such forms filed* You do not need to include these assets on Form 8938 for the tax year. 1. Number of Forms 3520 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 attach a continuation statement for each additional account see instructions. Deposit Custodial 2 Account number or other designation Type of account Account opened during tax year b Account closed during tax year a c d No tax item reported in Part III with respect to this asset Account jointly owned with spouse Did you use a foreign currency exchange rate to convert the value of the account into U*S* dollars. If you answered Yes to line 5 complete all that apply. 1 Foreign currency in which account is maintained convert to U*S* dollars U*S* Treasury Financial Management Service Check all that apply For Paperwork Reduction Act Notice see the separate instructions. City or town state or province and country including postal code Note. If you reported specified foreign financial assets on Forms 3520 3520-A 5471 8621 8865 or 8891 you do not have to include the assets on Form 8938. You must complete Part IV. See instructions. Description of asset Complete all that apply. See instructions for reporting of multiple acquisition or disposition dates. a Date asset acquired during tax year if applicable. b Date asset disposed of during tax year if applicable. Check if asset jointly owned with spouse Check if no tax item reported in Part III with respect to this asset 0 - 50 000 50 001 - 100 000 100 001 - 150 000 e If more than 200 000 list value.

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What is the 8938 Form

The 8938 Form, officially known as the Statement of Specified Foreign Financial Assets, is a tax form required by the Internal Revenue Service (IRS) for certain U.S. taxpayers. It is used to report specified foreign financial assets if the total value exceeds certain thresholds. This form is part of the IRS's efforts to combat tax evasion and ensure compliance with U.S. tax laws regarding foreign assets. Taxpayers must include information about foreign bank accounts, stocks, and other financial assets held outside the United States.

How to use the 8938 Form

Using the 8938 Form involves accurately reporting your foreign financial assets to the IRS. Taxpayers must first determine if they meet the reporting threshold based on their filing status and whether they are living in the U.S. or abroad. Once the threshold is established, the taxpayer should gather all relevant information about their foreign assets, including account numbers, financial institutions, and the maximum value of each asset during the tax year. The completed form is then submitted with the taxpayer's annual income tax return.

Steps to complete the 8938 Form

Completing the 8938 Form requires careful attention to detail. Follow these steps:

  • Determine if you are required to file the form based on your total foreign assets.
  • Gather necessary information about each specified foreign financial asset.
  • Fill out the form, ensuring all sections are completed accurately.
  • Review the form for any errors or omissions.
  • Submit the form along with your annual tax return by the specified deadline.

Legal use of the 8938 Form

The legal use of the 8938 Form is governed by U.S. tax laws, which require certain taxpayers to disclose foreign financial assets. This requirement is part of the Foreign Account Tax Compliance Act (FATCA), aimed at preventing tax evasion. Failure to file the form when required can lead to significant penalties, so it is crucial for taxpayers to understand their obligations and ensure compliance.

Filing Deadlines / Important Dates

The filing deadline for the 8938 Form generally aligns with the due date of the individual income tax return, which is typically April 15. However, if you file for an extension, the deadline may be extended to October 15. It is important to stay informed about any changes to deadlines, as these can vary from year to year.

Penalties for Non-Compliance

Non-compliance with the requirements of the 8938 Form can result in substantial penalties. The IRS imposes a penalty of $10,000 for failing to file the form, with additional penalties accruing for continued failure to file after receiving a notice from the IRS. In some cases, taxpayers may also face criminal charges for willful failure to report foreign financial assets.

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Related links to 8938 Form
26 CFR § 1.6038D-2 - Requirement to report specified foreign ...

A specified person that has any interest in a specified foreign financial asset during the taxable year must attach Form 8938, “Statement of Specified Foreign ...Read more

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

Jan 23, 2026 — 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 ...Read more

Parents' Election To Report Child's Interest and Dividends

See the Form 8938 instructions for details. Change of address. If your child filed a return for a previous year and the address shown on the last return filed ...Read more

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The 8938 Form, also known as the Statement of Specified Foreign Financial Assets, is required by the IRS for U.S. taxpayers with foreign assets exceeding certain thresholds. Filing the 8938 Form helps you report these assets accurately and avoid potential penalties. Using airSlate SignNow makes it easy to eSign and submit your 8938 Form securely.

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