Form 8938 - Which threshold do I belong in?

I lived and worked abroad for several years. I returned to the U.S. in late September 2023.

Before 2024, I had over $50K in my foreign bank account, but it never exceeded $75K. Did I need to file Form 8938? Would the physical presence from September 2022 to September 2023 set my reporting threshold at $200K for Form 8938?

Additionally, I started working in the U.S. from October to the end of December 2024.

Thanks again.

813

Expert Alumni

Mar 28, 2025 5:09:31 PM

Yes, you will need to file 8938 if the balance is more than $50,000 on the last day of the tax year. You do qualify for the $200,000 exclusion for 2023 because you meet the requirements for the presence abroad tests.

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Form 8938 - Which threshold do I belong in?