Form preview

IRS 8938 2016 free printable template

Get Form
pdfFiller is not affiliated with IRS
Screenshot
Screenshot
Screenshot

Get, Create, Make, and Sign IRS 8938

Edit your IRS 8938 online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Screenshot
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Screenshot
Share your form instantly
Email, fax, or share your IRS 8938 via URL. You can also download, print, or export forms to your preferred cloud storage service.
Screenshot
Instructions and Help about IRS 8938
How to edit IRS 8938
How to fill out IRS 8938

Instructions and Help about IRS 8938

How to edit IRS 8938

You can edit Form 8938 using pdfFiller, which provides easy tools for annotation and editing. Once you upload the form, simply select the ‘Edit’ option to make necessary changes. Save your edited version before proceeding to submit it to ensure all information is accurate and up-to-date.

How to fill out IRS 8938

To fill out IRS Form 8938 accurately, gather all necessary information about your specified foreign financial assets. Complete each section carefully, following the instructions provided. Use pdfFiller's user-friendly interface to input your data and check for errors before finalizing the form.

About IRS 8 previous version

What is IRS 8938?

IRS Form 8938, or the Statement of Specified Foreign Financial Assets, is used by certain U.S. taxpayers to report their foreign financial assets. This form was introduced as part of the Foreign Account Tax Compliance Act (FATCA) to combat tax evasion by U.S. citizens and residents holding foreign financial accounts.

Who needs the form?

U.S. taxpayers, including citizens, resident aliens, and certain non-resident aliens, are required to file Form 8938 if they have specified foreign financial assets exceeding the reporting threshold. This typically includes individuals living outside the United States and those with significant foreign investments.

Components of the form

IRS Form 8938 includes sections to report different types of foreign financial assets, including foreign bank accounts, securities, and interests in foreign entities. Each asset category requires specific details, such as the asset's name, address, and maximum value during the tax year.

How many copies of the form should I complete?

Taxpayers should complete one copy of IRS Form 8938 to submit with their tax return. However, it is advisable to keep a copy of the completed form for personal records and any potential future inquiries from the IRS.

What are the penalties for not issuing the form?

Failure to file IRS Form 8938 when required may result in severe penalties. The IRS imposes a failure-to-file penalty starting at $10,000, along with additional penalties for continued non-compliance after notification. It's essential to comply with reporting requirements to avoid these consequences.

Where do I send the form?

Form 8938 should be sent to the same address where you file your tax return. If you are filing electronically, the form can be included with your e-filed return, ensuring that all information is submitted together for efficient processing by the IRS.

What is the purpose of this form?

The purpose of IRS Form 8938 is to ensure that U.S. taxpayers report any specified foreign financial assets with an aggregate value exceeding certain thresholds. By requiring disclosure of these assets, the IRS aims to improve tax compliance and transparency related to foreign holdings.

When am I exempt from filling out this form?

Taxpayers may be exempt from filing Form 8938 if their specified foreign financial assets are valued below the reporting thresholds. Additionally, certain accounts, such as those maintained by financial institutions or those reported on other forms, may not need to be included.

Due date

IRS Form 8938 is due on the same date as your income tax return, typically April 15. If an extension is applied for the tax return, the due date for Form 8938 will also extend accordingly. However, it is still essential to file on time to avoid potential penalties.

What payments and purchases are reported?

Form 8938 primarily requires reporting on specified foreign financial assets, such as foreign bank accounts, foreign stocks, and various other investments. Taxpayers must disclose the details of assets that fall within the defined parameters set by the IRS under FATCA.

What information do you need when you file the form?

When filing Form 8938, taxpayers need detailed information about their specified foreign financial assets, including account numbers, asset values, and the identities of foreign financial institutions. Accurate and comprehensive data submission is crucial for proper compliance.

Is the form accompanied by other forms?

IRS Form 8938 may need to be submitted alongside other forms, such as Form 1040 or other tax compliance documents, depending on individual tax situations. Ensure that all required forms are completed to meet tax obligations fully.

FAQ about IRS 8938

If you've made a mistake on your 2016 form 8938, you can file an amended return to correct the errors. It's essential to address these mistakes promptly to avoid potential penalties. Ensure you're using the correct version of the form and indicate that it's an amended submission.

To verify the receipt and processing of your 2016 form 8938, you can check the IRS website for e-file status tracking if you submitted electronically. For paper filings, contacting the IRS directly may provide updates, although they usually take longer to process.

E-filing the 2016 form 8938 may involve a fee if you use third-party tax software or a tax professional. However, many software options may offer competitive rates or even free services for simple filings, so it's advisable to compare options.

If you receive a notice from the IRS about your 2016 form 8938, carefully read the correspondence and gather any necessary documentation to respond appropriately. It's crucial to address any concerns raised by the IRS in a timely manner to avoid escalated penalties.

Yes, you can use an electronic signature for the 2016 form 8938 when filing electronically. Ensure that your e-filing software is capable of supporting electronic signatures, as they must meet the IRS standards for security and authenticity.

See what our users say

Read user feedback and try pdfFiller to explore all its benefits for yourself
Love this, saves so much time and aggrevation
DAWN N
Easy to use, but seems like a lot of steps to go through to get to the documents and to save them to my computer. I have to save it to my computer to print it because printing from the program doesn't get it all printed on the 8.5x11" paper so leaves information off.
Ann F
See what our users say
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Trust Seal
Rate free form
4.3
satisfied
48 votes

IRS 8938 Form Versions

IRS 8938 2021
IRS 8938 2020
IRS 8938 2019

Related Content

26 CFR § 1.6038D-2 - Requirement to report specified foreign ...
About Form 8938, Statement of Specified Foreign ... - IRS

Related Forms

Form preview
form 8938
15 Number of Forms 3520 For Paperwork Reduction Act Notice see the separate instructions. Cat. No. 37753A Form 8938 Rev. 11-2021 Page 2 Part V Detailed
Fill Now
Form preview
dc form uc
Government of the district of columbia department of employment services office of unemployment compensation
Fill Now
Form preview
1040 form 2016
Form 1040 2016 (99) department of the treasury internal revenue service u.s. individual income tax
Fill Now
Form preview
2015 8938 form
Form 8938 department of the treasury internal revenue service statement of specified foreign financial assets
Fill Now
Form preview
2016 941 form
941 for 2016: form (rev. january 2016) employer s quarterly federal tax return 950114 omb
Fill Now
Form preview
In support of the claims made in my complaint, I state the following f
State of vermontsuperior court unit plaintiamily division docket no. date of birth. defendantdate of birthdefendants
Fill Now
Form preview
Affidavit in Support of Relief from Abuse Complaint for Child Notary
State of vermontsuperior court unit plaintiamily division docket no. date of birth. defendantdate of birthdefendants
Fill Now
Form preview
Affidavit in Support of Request for Emergency Relief
State of vermontsuperior courtfamily divisionunitplaintiffdocket no.date of birthdefendantdate of birth. affidavit in support of request
Fill Now
Form preview
Relief from Abuse, Neglect, and Exploitation of a ... - Vermont Judici
State of vermontsuperior courtfamily divisionunitplaintiffdocket no.date of birthdefendantdate of birth. affidavit in support of request
Fill Now
Form preview
Section 6936(b)
State of vermont superior court unit plaintiamily division docket no. dobdefendantdobv. certificate of notice to
Fill Now
Form preview
vermont family law practice manual - Vermont Bar Association
State of vermont superior courtfamily divisionunit plaintiffdocket no. date of birthdefendantdate of birth. defendants full
Fill Now

Related Catalogs

Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
One-Stop Forms & Templates Download
In this catalog, we arranged 150 000 most popular fillable documents into 20 categories. For convenient searching and filing of the issue-related forms, select the category and have all relevant documents in one place. Edit professional templates, download them in any text format or send via pdfFiller advanced sharing tools
Go to catalog
pdfFiller Tax Forms Catalog
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
Go to catalog

Related Features

Track signature seamlessly with pdfFiller
Sign Account Statements
Sign Advisory Contracts
Sign Advisory Services Contracts
Sign Artist Agreements
If you believe that this page should be taken down, please follow our DMCA take down process here .
This form may include fields for payment information. Data entered in these fields is not covered by PCI DSS compliance.