IRS 8938 2013 free printable template

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...

How to fill out 2013 8938 form

1. To fill out the 2013 8938 form, you first need to gather all the required information and documentation. This includes your personal details such as name, address, and social security number, as well as information about your foreign financial assets.
2. You will need to accurately report the maximum value of your specified foreign financial assets during the tax year 2013. This includes bank accounts, brokerage accounts, stocks, bonds, mutual funds, and any other type of financial account held outside of the United States.
3. The form requires you to classify your different types of foreign financial assets based on specific categories. These categories include financial accounts held at foreign financial institutions, interests in foreign entities, and certain other foreign financial assets.
4. You must carefully review the form instructions to determine the thresholds that trigger the filing requirement. The 2013 8938 form needs to be filed if the total value of your specified foreign financial assets exceeds the reporting threshold set by the Internal Revenue Service (IRS).
5. It is important to accurately calculate and report the value of your foreign financial assets in U.S. dollars. You may need to use the appropriate exchange rates, conversion methods, or financial statements to determine the value.
6. Once you have gathered all the necessary information and completed the form accurately, you need to sign and date it. Make sure to keep a copy for your records and submit the form to the IRS according to the provided instructions.

Who needs the 2013 8938 form?

1. U.S. citizens, resident aliens, and certain non-resident aliens who meet the specified filing thresholds for foreign assets are required to complete the 2013 8938 form. This includes individuals who have an interest in or signature authority over certain foreign financial accounts, as well as those who own other types of specified foreign financial assets.
2. The filing requirement applies to individuals who meet the specified thresholds, irrespective of whether they need to file a tax return or not. It is crucial to review the instructions or consult with a tax professional to determine if you are required to file the form based on your specific circumstances.
3. Failing to file the 2013 8938 form when required can result in penalties imposed by the IRS. It is essential to accurately determine your filing obligation and fulfill it accordingly to avoid any potential penalties or legal consequences.

• What is IRS Form 8938 2013?
• Who must file Form 8938 2013?
• • What information do I need to complete Form 8938?
  • How do I fill out Form 8938 in 2014?
  • Is 8938 Form accompanied by other forms?
  • When is IRS Form 8938 due?
  • Where do I send 8938 Form?

What is IRS Form 8938 2013?

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 2013?

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 2014 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 2014?

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, 2014.

Where do I send 8938 Form?

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

Instructions and Help about 2013 8938 form

People Also Ask about 2013 8938 form

How is form 8938 different from FBAR?

The Form 8938 filing requirement does not replace or otherwise affect a taxpayer's obligation to file FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS.

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.

When did form 8938 start?

Higher asset thresholds apply to U.S. taxpayers who file a joint tax return or who reside abroad (see below). Form 8938 reporting applies for specified foreign financial assets in which the taxpayer has an interest in taxable years starting after March 18, 2010.

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 form 8938 2014?

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 is more than the appropriate reporting threshold. See Reporting Thresholds Applying to Specified Individuals, later.

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.

For pdfFiller’s FAQs

What is 8938 form?

The 8938 form, also known as the Statement of Specified Foreign Financial Assets, is a form required by the Internal Revenue Service (IRS) to report specified foreign financial assets.

Who is required to file 8938 form?

U.S. taxpayers are required to file the 8938 form if they meet the specified threshold for foreign financial assets.

How to fill out 8938 form?

To fill out the 8938 form, taxpayers need to provide information about their foreign financial assets, including the type, value, and location of each asset.

What is the purpose of 8938 form?

The purpose of the 8938 form is to report foreign financial assets and ensure compliance with U.S. tax laws, specifically related to reporting requirements for foreign assets.

What information must be reported on 8938 form?

The 8938 form requires taxpayers to report various details about their foreign financial assets, such as the type of asset, maximum value during the year, and certain identifying information.

When is the deadline to file 8938 form in 2023?

The deadline to file the 8938 form in 2023 is typically April 15th, unless an extension is granted.

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

The penalty for the late filing of the 8938 form can range from $10,000 for a failure to disclose, up to $50,000 for continued failure to disclose over a 90-day period.

How do I complete 2013 8938 form online?

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