TESSIER TAX SOLUTIONS
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Form 8938 - Rules

Threshold for tax payers living in the USA

Filing is necessary if total value of specified foreign financial assets is over these amounts
- Married filing jointly
  • $100,000 on the last day of the tax year, or
  • $150,000 at any time during the tax year
- Any other other filing status 
  • $50,000 on the last day of the tax year, or
  • $75,000 at any time during the tax year

Threshold for tax payers living outside the USA

- Married filing jointly
  • $400,000 on the last day of the tax year, or
  • $600,000 at any time during the tax year
- Any other other filing status 
  • $200,000 on the last day of the tax year, or
  • $300,000 at any time during the tax year
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