FATCA Threshold Calculator
FATCA (Foreign Account Tax Compliance Act) requires US taxpayers to report foreign financial assets on Form 8938 if they exceed certain thresholds. The thresholds depend on your filing status and whether you live inside or outside the US.
FATCA vs. FBAR — Key Differences:
FATCA (Form 8938) is filed with your tax return to the IRS. FBAR (FinCEN 114) is filed separately at bsaefiling.fincen.treas.gov. Different thresholds apply. You may need to file both. FBAR covers bank and financial accounts; FATCA covers a broader range including foreign stocks, foreign partnerships, and financial interests. If in doubt, file both.
FATCA (Form 8938) is filed with your tax return to the IRS. FBAR (FinCEN 114) is filed separately at bsaefiling.fincen.treas.gov. Different thresholds apply. You may need to file both. FBAR covers bank and financial accounts; FATCA covers a broader range including foreign stocks, foreign partnerships, and financial interests. If in doubt, file both.