IRS 8938 2012 free printable template

Form November 2012 Statement of Specified Foreign Financial Assets Department of the Treasury Internal Revenue Service Information about Form 8938 and its separate instructions is at www.irs.gov/form8938. For Paperwork Reduction Act Notice see the separate instructions. Cat. No. 37753A Form 8938 11-2012 Page 2 is denominated If asset reported in Part II line 1 is stock of a foreign entity or an interest in a foreign entity report the following information. a Name of foreign entity Estate b...

How to fill out 2012 8938 form

How to fill out 2012 8938 form:

1. Gather all necessary information and forms related to your foreign financial assets. This includes bank account statements, investment statements, and any other documentation that proves the value of your assets.
2. Start by filling out your personal information on the first page of the form. This includes your name, address, and Social Security number.
3. Move on to Part I of the form, where you will provide information about your specified foreign financial assets. This includes the type of asset, its maximum value during the tax year, and any income associated with it.
4. Continue by filling out Part II, which requires you to provide specific information about each account or asset. This includes the name of the financial institution or issuer, the account number or other identifying information, and the maximum value of each asset.
5. If you have more than five foreign financial assets, you will need to attach additional pages to the form. Make sure to label each additional page with your name, Social Security number, and the corresponding part and line number.
6. Once you have completed all the required sections of the form, review your entries to ensure accuracy and completeness.
7. Sign and date the form before submitting it to the appropriate tax authority.

Who needs 2012 8938 form:

1. U.S. citizens or resident aliens who have specified foreign financial assets that exceed certain thresholds during the tax year.
2. Individuals who meet the filing requirements for the Foreign Account Tax Compliance Act (FATCA).
3. Taxpayers who have a financial interest in, or signature authority over, one or more financial accounts or other specified foreign financial assets and are required to report them to the IRS.

• What is IRS Form 8938 2012?
• Who must file Form 8938 2012?
• • What information do I need to complete Form 8938?
  • How do I fill out Form 8938 in 2013?
  • Is 8938 Form accompanied by other forms?
  • When is IRS Form 8938 due?
  • Where do I send 8938 Form?

What is IRS Form 8938 2012?

Form 8938 is used to disclose all foreign financial assets specific individuals or entities (defined by IRS) hold outside of the USA. However, foreign financial assets are a collective notion. The IRS singles out a few asset types. They are as follows:

• Accounts held in a financial institution outside the USA
• Foreign stocks and bonds
• Interest in a foreign organization or corporation
• Contracts that include non-US counterparties
• Personal residences
• Any financial documentation

In addition, form 8938 is often confused with FinCEN Form 114 (FBAR). The main difference is that the latter must be filed with the US Treasury and not the IRS. Visit the IRS website to check the extensive 8938 vs. FBAR comparison.

Who must file Form 8938 2012?

Everyone who holds financial assets outside the United States or has a connection with foreign entities must fill out the document. One of the essential Form 8938 filing requirements is that the total value of all foreign assets should exceed the particular threshold, which differs depending on the taxpayer’s type. You can learn more about the Form 8938 threshold in 2013 for every taxpayer type on the IRS website.

What information do I need to complete Form 8938?

8938 Form is complicated, with four parts that must be completed. Before filling out each section of the form, individuals should complete the fields with their identification information and define which type of filer they are.

Each part of the form accounts for a particular type of foreign asset such as financial accounts, stocks, bonds, etc.

How do I fill out Form 8938 in 2013?

Before completing IRS Form 8938, read it over carefully and check the latest Form 8938 instructions. To save time and resources, you can fill out the form online with pdfFiller. Follow these steps to efficiently complete your form online:

1. Scroll up and click the Get Form button.
2. Follow the green pointer and start filling out all the required fields.
3. To complete the document, use the various annotation and editing tools, such as checkmarks, circles, and crosses.
4. Review the document and check for errors and typos.
5. Click Done to finalize the process and download the form.
6. Select the option to send the form via USPS in your Dashboard if you prefer to send it via mail.

Is 8938 Form accompanied by other forms?

Initially, Form 8938 was part of FATCA (Foreign Account Tax Compliance Act). According to the regulations, an individual fills out Form 8938 and attaches it to their annual return, which may be one of the following: Form 1040, Form 1040NR, Form 1041, etc.

When is IRS Form 8938 due?

The form should be sent to the IRS only when attached to the annual return or amended return by April 18th, 2013.

Where do I send 8938 Form?

Send the form and the annual income return to the IRS.

Instructions and Help about 2012 8938 form

People Also Ask about 2012 8938 form

When did form 8938 come out?

FATCA Form 8938 is new, and was first introduced on the 2011 1040 tax return, but the FBAR has been around since 1970. It was developed by FinCEN (Financial Crimes Enforcement Network), but since 2003, it has been enforced by the IRS.

What is the difference between FBAR and form 8938?

Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly with the office of Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, separate from the IRS.

Do you have to file 8938 and FBAR?

A financial asset that is reported on Form 8938 (FATCA) does not necessarily need to be reported on your FBAR form and vice versa.

When was form 8938 first required?

Form 8938 reporting applies for specified foreign financial assets in which the taxpayer has an interest in taxable years starting after March 18, 2010. For most individual taxpayers, this means they will start filing Form 8938 with their 2011 income tax return.

Who must file Form 8938?

A U.S. citizen. A resident alien of the United States for any part of the tax year (see Publication 519 for more information) A nonresident alien who makes an election to be treated as resident alien for purposes of filing a joint income tax return.

Who needs to fill out form 8938?

To get into the nitty gritty of it, if you're a U.S. taxpayer who lives outside of the U.S. and holds a total combined value of foreign assets worth more than $300,000 at any time during the year (or $200,000 on the last day of the year) you need to report it on Form 8938.

For pdfFiller’s FAQs

What is 8938 form?

Form 8938 is a statement used for reporting specified foreign financial assets.

Who is required to file 8938 form?

US taxpayers who meet the specified threshold of foreign financial assets are required to file Form 8938.

How to fill out 8938 form?

Form 8938 requires taxpayers to provide detailed information about their foreign financial assets, including account numbers, maximum value during the year, and the name of the financial institution.

What is the purpose of 8938 form?

The purpose of Form 8938 is to provide information to the IRS about the taxpayer's foreign financial assets and to help prevent tax evasion.

What information must be reported on 8938 form?

Form 8938 requires the reporting of various foreign financial assets, such as bank accounts, stocks, and securities, held by the taxpayer.

When is the deadline to file 8938 form in 2023?

The deadline to file Form 8938 for the tax year 2023 is April 15, 2024.

What is the penalty for the late filing of 8938 form?

The penalty for the late filing of Form 8938 is a $10,000 penalty, with additional penalties for continued failure to file after receiving a notice from the IRS.

How do I edit 2012 8938 form online?

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