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Types of Foreign Assets and Whether They are Reportable on Form 8938

Types of Foreign Assets and Whether They are Reportable on Form 8938

Financial (deposit and custodial) accounts held at foreign financial institutions

Yes

Financial account held at a foreign branch of a U.S. financial institution

No

Financial account held at a U.S. branch of a foreign financial institution

No

Foreign financial account or asset for which you have signature authority

No, unless any income, gains, losses, deductions, credits, gross proceeds, or distributions from holding or disposing of the account or asset are or would be required to be reported, included, or otherwise reflected on your income tax return

Foreign stock or securities held in a financial account at a foreign financial institution

The account itself is subject to reporting, but the contents of the account do not have to be separately reported

Foreign stock or securities not held in a financial account

Yes

Foreign partnership interests

Yes

Indirect interests in foreign financial assets through an entity

No

Foreign mutual funds

Yes

Domestic mutual fund investing in foreign stocks and securities

No

Foreign accounts and foreign non-account investment assets held by foreign or domestic grantor trust for which you are the grantor

Yes, as to both foreign accounts and foreign non-account investment assets

Foreign-issued life insurance or annuity contract with a cash-value

Yes

Foreign hedge funds and foreign private equity funds

Yes

Foreign real estate held directly

No

Foreign real estate held through a foreign entity

No, but the foreign entity itself is a specified foreign financial asset and its maximum value includes the value of the real estate

Foreign currency held directly

No

Precious Metals held directly

No

Personal property, held directly, such as art, antiques, jewelry, cars and other collectibles

No

‘Social Security’- type program benefits provided by a foreign government

No

Page Last Reviewed or Updated: 16-Jan-2014