Glossary

Form 8938 – Statement of Specified Foreign Financial Assets (noted earlier under international tax forms)

What is Form 8938: Statement of Specified Foreign Financial Assets?

Form 8938, also known as the Statement of Specified Foreign Financial Assets, is an IRS tax form that certain U.S. taxpayers must file to report specified foreign financial assets they own. This form is required when the value of these assets exceeds certain thresholds, and failing to file it can lead to significant penalties.

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