Does Form 8938 apply to me?

You must file Form 8938 if:

You are a specified individual (U.S. tax resident) and you have an interest in specified foreign financial assets required to be reported. In addition, the aggregate value of your specified foreign financial assets is more than the reporting thresholds that applies to you:

Specified individuals living in the U.S.:

• 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.

Specified individuals living outside the U.S.:

• Unmarried individual (or married filing separately): Total value of assets was more than $200,000 on the last day of the tax year, or more than $300,000 at any time during the year.

Married individual filing jointly: Total value of assets was more than $400,000 on the last day of the tax year, or more than $600,000 at any time during the year.