Statement of Foreign Financial Assets (Form 8938)

You may need to attach Form 8938 to your tax return to report your foreign financial assets such as foreign bank accounts or foreign stocks to the IRS if:

• You are unmarried and you owned foreign financial assets of more than $50,000 on the last day of the year or more than $75,000 at any time during the year.
• You are married filing jointly and you owned foreign financial assets of more than $100,000 on the last day of the year or more than $150,000 at any time during the year.

However, if the foreign financial assets are managed by a U.S. payer, such as a U.S. bank, mutual fund or brokerage firm, you don't need to report them since the U.S. payer will have already reported that financial information to the IRS. Please see the Form 8938 instructions to determine if you need to file this form.