Specified individuals and specified domestic entities that have an interest in specified foreign financial assets and meet the reporting threshold:
A Form 8938 is only required to be filed if -
-
Unmarried individual (or married filing separately): Total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year.
-
Married individual filing jointly: Total value of assets was more than $100,000 on the last day of the tax year, or more than $150,000 at any time during the year
Go to this IRS website for reporting requirements for a Form 8938 and FinCEN Form 114 - https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
