Maybe you are not required to file a Form 8938 "Statement of Specified Foreign Financial Assets"
To check and verify, here are the steps:
- Sign in to your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign assets" and Enter
- Select Jump to foreign assets
- Follow prompts
If you live in the US and meet one of the following criteria, you would need to file a Form 8938.
- 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.
For more information, click here: https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
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