2025 Form 8938 Threshold | US International Tax Lawyers US taxpayers must file Form 8938 with their US tax returns if they hold foreign financial assets with an aggregate value exceeding a relevant balance threshold This article discusses the 2025 Form 8938 threshold limits
What are the reporting requirements for U. S. persons under FATCA? Under FATCA, U S persons (including individuals, corporations, partnerships, trusts, and estates) are required to report certain foreign financial assets on Form 8938 (Statement of Specified Foreign Financial Assets) if the aggregate value exceeds certain thresholds For tax year 2025, the thresholds are $200,000 for unmarried taxpayers and
What Is the 8938 Threshold and How Does It Affect You? The IRS requires taxpayers to file Form 8938 when foreign financial assets exceed certain values, which vary based on tax filing status and residency For U S residents: – Single filers must report if foreign assets exceed $50,000 on the last day of the tax year or $75,000 at any point during the year
Form 8938 and FATCA Reporting – A Guide for Expats in 2025 Form 8938 has to be filed by US taxpayers to notify the IRS about certain foreign financial assets What needs to be reported on Form 8938? US persons with foreign financial assets exceeding certain thresholds must report these Specified Foreign Financial Assets on Form 8938:
IRS Form 8938: Essential Insights for Expats - FileLater As of 2025, the thresholds are: Single or Married Filing Separately: If the total value of specified foreign financial assets is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year
Foreign Asset Disclosure: IRS Rules You Need to Know in 2025 Under FATCA (Foreign Account Tax Compliance Act), taxpayers must file IRS Form 8938 if they have foreign financial assets above certain thresholds: FATCA requires reporting of: 3 Foreign Trusts and Gifts (Form 3520 3520-A)
The Form 8938 Reporting Requirements Explained New 2025 Unlike the FBAR, the Form 8938 threshold requirements vary based on whether the Taxpayer is a U S resident or a foreign resident and whether he is filing a tax return as a single MFS filer or MFJ Example: Frank lives in the United States and has $125,000 in reportable foreign assets on the last day of the tax year
Form 8938: Who must file, and how to file - JH Law PLLC U S citizens, residents, and certain non-resident aliens must file Form 8938 if they meet the threshold for specified foreign financial assets The threshold varies based on tax filing status and residence:
IRS Form 8938: Reporting Specified Foreign Financial Assets It's crucial to assess your financial situation against these thresholds to determine if you need to file Form 8938 Please note that these rates are subject to change annually Always verify the current limits with the IRS or a tax professional