Am I required to complete FATCA & form 8938 reporting?
IRS says in their site that:
U.S. taxpayers who do not have to file an income tax return for the tax year do not have to file Form 8938, regardless of the value of their specified foreign financial assets.
I am not required to file an income tax return but I would like to file tax. Am I also required to file Form 8938?
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1 Replies
KristinaK
Employee Tax Expert
Apr 30, 2024 1:26:18 PM
If you are not required to file a tax return but you choose to file it, then you still fall under the exception you mention. However, as a matter of practice and because the penalties are so bad, I would recommend filing the 8938, rather than not.