Is FATCA the same as Form 8938?
FATCA is a broad statutory reporting regime. Form 8938 is the return attachment commonly used by specified U.S. taxpayers to report specified foreign financial assets when the applicable conditions and thresholds are met.
Do I need Form 8938 if I already filed an FBAR?
Possibly. Form 8938 and the FBAR are separate reports with different definitions, thresholds, and filing destinations. The same foreign account can appear on both.
Does every U.S. citizen abroad file Form 8938?
No. Filing depends on the annual federal-return requirement, specified-person status, the assets involved, filing status, residence conditions, and aggregate values.
Are the thresholds higher when I live abroad?
They can be. The higher thresholds apply only when the taxpayer meets the living-abroad conditions in the Form 8938 instructions, including the relevant tax-home and residence or physical-presence test.
Does foreign real estate go on Form 8938?
Directly owned foreign real estate is generally not itself a specified foreign financial asset. An interest in a foreign entity that owns real estate can require a different analysis, and other tax reporting may apply.
What if I missed Form 8938 in a prior year?
The next step is a fact review, not an automatic procedure. The correct response can depend on omitted income, other missing forms, prior contacts from the IRS, and the circumstances behind the omission.
Can I send my tax return through the contact form?
No. The inquiry form is not a secure tax-document portal. Do not send returns, statements, identification documents, taxpayer IDs, account numbers, or passwords. Secure instructions are provided after engagement.
Does submitting the form make me a client?
No. Submission is only a request for review. A professional-client relationship begins only after conflicts and scope are addressed and a written engagement is accepted.
Is FATCA HQ part of the IRS?
No. FATCA HQ is an independent private service and is not affiliated with or endorsed by the IRS, Treasury, FinCEN, or another government agency.