I'm an Australian citizen with a greencard here in the U.S. I have to declare my Australian Superannuation in my tax return but I have no idea how to do it. Help please?

Note: I cannot touch my Super until I retire. I will not get taxed on it but it still needs to be declared otherwise the IRS will consider my return fraudulent and could jeopardize my greencard status.

1254

Expert Alumni

Apr 14, 2023 8:46:22 AM

You do have two requirements to file this. First of all, you need to file a 8938 if the amount in the pension fund exceeds $50,000 on the last day of the tax year or $75,000 at any time during the tax year. I will explain how to get to this section of your return in my closing paragraph.

There is also a FBAR reporting requirement if this account exceeds $10,000 during the tax year. Turbo Tax does not handle this type of reporting but you may report this on the following website.

To report your 8938::

Go to Federal>other tax situations
Other tax forms>Miscellaneous Forms>
Prepare a report on foreign assets

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I'm an Australian citizen with a greencard here in the U.S. I have to declare my Australian Superannuation in my tax return but I have no idea how to do it. Help please?