Types of Foreign Assets and Whether They are Reportable on Form 8938
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Types of Foreign Assets and Whether They are Reportable on Form 8938 |
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Financial (deposit and custodial) accounts held at foreign financial institutions |
Yes |
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Financial account held at a foreign branch of a U.S. financial institution |
No |
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Financial account held at a U.S. branch of a foreign financial institution |
No |
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Foreign financial account or asset for which you have signature authority |
No, unless any income, gains, losses, deductions, credits, gross proceeds, or distributions from holding or disposing of the account or asset are or would be required to be reported, included, or otherwise reflected on your income tax return |
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Foreign stock or securities held in a financial account at a foreign financial institution |
The account itself is subject to reporting, but the contents of the account do not have to be separately reported |
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Foreign stock or securities not held in a financial account |
Yes |
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Foreign partnership interests |
Yes |
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Indirect interests in foreign financial assets through an entity |
No |
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Foreign mutual funds |
Yes |
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Domestic mutual fund investing in foreign stocks and securities |
No |
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Foreign accounts and foreign non-account investment assets held by foreign or domestic grantor trust for which you are the grantor |
Yes, as to both foreign accounts and foreign non-account investment assets |
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Foreign-issued life insurance or annuity contract with a cash-value |
Yes |
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Foreign hedge funds and foreign private equity funds |
Yes |
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Foreign real estate held directly |
No |
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Foreign real estate held through a foreign entity |
No, but the foreign entity itself is a specified foreign financial asset and its maximum value includes the value of the real estate |
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Foreign currency held directly |
No |
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Precious Metals held directly |
No |
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Personal property, held directly, such as art, antiques, jewelry, cars and other collectibles |
No |
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‘Social Security’- type program benefits provided by a foreign government |
No |
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