Get the free Form 8938 2015 Statement Of Specified Foreign Financial Assets - irs

Caution: DRIFTNET FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms.

How to fill out form 8938 2015 statement

How to fill out form 8938 2015 statement:

1. Gather all necessary information and documents, such as your name, address, Social Security number, and any foreign financial accounts or assets you may have.
2. Review the instructions provided with form 8938 to understand the requirements and reporting thresholds.
3. Begin filling out the form by entering your personal information in the appropriate sections.
4. Proceed to Part I of the form, which relates to foreign financial accounts. Provide details about each account, including the account name, account number, and maximum value during the year.
5. If you have more foreign financial accounts than the space provided in Part I, you can attach a statement with additional information.
6. Move on to Part II of the form, which pertains to other foreign financial assets. Report any assets that fall under the specified categories, such as stocks, securities, or interests in foreign entities.
7. Enter the maximum value of each asset during the year and provide any additional information required for each asset.
8. If you have more assets to report than the available space in Part II, attach a statement with the necessary details.
9. Complete the rest of the form, including the certification section at the end.
10. Review your filled form for accuracy and completeness before submitting it to the IRS.

Who needs form 8938 2015 statement:

1. U.S. citizens or residents who have an interest in specified foreign financial assets and meet the reporting thresholds must file form 8938.
2. The reporting thresholds vary depending on filing status and location. For instance, if you live in the United States and are single, you're required to file if the total value of your specified foreign financial assets exceeds $50,000 on the last day of the tax year or $75,000 at any point during the year.
3. Married individuals filing jointly have higher reporting thresholds, such as $100,000 on the last day of the tax year or $150,000 at any time during the year.
4. Along with individuals, certain nonresident aliens may also need to file form 8938 if they meet the specified criteria.
5. It's important to consult the instructions for form 8938 or seek professional advice to determine if you are required to file this statement. Noncompliance can result in penalties imposed by the IRS.

For pdfFiller’s FAQs

What is form 8938 statement of?

Form 8938 is a statement of specified foreign financial assets.

Who is required to file form 8938 statement of?

Individuals who meet the filing requirements must file Form 8938.

How to fill out form 8938 statement of?

Form 8938 is filled out by providing information about specified foreign financial assets.

What is the purpose of form 8938 statement of?

The purpose of Form 8938 is to report specified foreign financial assets.

What information must be reported on form 8938 statement of?

Information about specified foreign financial assets must be reported on Form 8938.

When is the deadline to file form 8938 statement of in 2023?

The deadline to file Form 8938 in 2023 is April 17th.

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

The penalty for late filing of Form 8938 can be up to $10,000.

Can I sign the form 8938 2015 statement electronically in Chrome?

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