FATCA Form 8938 (2026)

FATCA Form 8938 is not the $10,000 FBAR

Form 8938 Statement of Specified Foreign Financial Assets attaches to your Form 1040 when foreign asset values cross FATCA thresholds—generally higher than FBAR’s $10,000 aggregate account rule. Expats abroad face $200,000/$400,000 tests (single, any time during year / last day); domestic residents often use $50,000/$100,000 tests. Joint filers abroad commonly use $400,000/$600,000 variants—confirm instructions for your status.

Enter year-end and maximum during-year values of specified foreign assets in USD. Calculator compares to threshold set for your filing and residency abroad flag.

Threshold summary (common cases)

• U.S. resident single: $50,000 last day OR $100,000 any time
• U.S. resident joint: $100,000 last day OR $150,000 any time
• Living abroad single: $200,000 last day OR $400,000 any time
• Living abroad joint: $400,000 last day OR $600,000 any time

“Living abroad” requires bona fide presence or 330-day test overlap—see bona fide vs physical presence calculator.

FBAR at $10,000 still applies separately

Accounts totaling $12,000 peak may require FBAR while failing $50,000 8938 last-day test—FBAR calculator for aggregate peak logic.

How to use the calculator

Step 1 — Enter asset values

Accounts, foreign stock not in U.S. brokerage, foreign pension interests per Form 8938 categories.

Step 2 — Select residency and filing status

Domestic vs abroad thresholds differ materially.

Step 3 — Compare last-day and any-time tests

Either test triggering generally requires filing.

Penalties

Failure to file Form 8938 carries $10,000 initial penalty with extensions for continued failure. Accuracy matters separate from FBAR penalties.

Worked example

U.S. resident single, foreign brokerage $45,000 year-end, peaked at $110,000 in June → any-time test ($100,000) triggers 8938 even though last day under $50,000.

Common mistakes

• Filing FBAR only and skipping 8938 when FATCA thresholds met
• Using wrong threshold set for abroad vs domestic
• Excluding foreign pension assets reportable on 8938

Related tools

FBAR $10k: FBAR calculator. FEIE: foreign earned income exclusion calculator. FTC: foreign tax credit calculator.

Asset categories beyond bank accounts

Foreign hedge fund interests, foreign life insurance with cash value, and foreign partnership stakes may be specified assets even when not on FBAR list identically—Form 8938 instructions broader than cash accounts alone.

Domestic partnership in foreign hedge fund

Indirect holdings through domestic LLC investing in foreign assets may still trigger 8938 if look-through to foreign financial account—Form 8938 instructions on specified domestic entity reporting when applicable.

De minimis exceptions rare for individuals over thresholds—do not skip filing because account small if aggregate over limit tests met on other accounts.

Reading your results for fatca form 8938

The interactive panel above shows a transparent calculation trace in cents—use it to sanity-check inputs before you rely on any number for decisions. Tax software at filing time may differ when every credit, limitation, and state conformity rule is applied in full. Treat output here as structured planning math aligned to 2026 federal reference data where noted, not as e-file output or professional advice.

When your situation includes items this specialized tool simplifies—multiple entities, prior-year carryforwards, treaty elections, or state nonconformity—layer those facts manually or with a preparer. The goal is to narrow uncertainty enough to ask better questions, not to eliminate the need for review when dollars are material.

Recordkeeping that survives scrutiny

Keep source documents (forms, statements, logs, confirmations) that support every input you typed. IRS and state audits often start from third-party reporting; your job is to reconcile 1099s, K-1s, and broker exports to the story you file. Digital backups with dates beat reconstructed spreadsheets created after an notice arrives.

For fatca form 8938, retain worksheets year to year when carryforwards exist—loss carryovers, credit carryforwards, passive loss suspensions, and basis schedules die silently if you change preparers and lose history.

Related tools on this site

FBAR $10k: FBAR calculator. FTC: foreign tax credit calculator.

2026 federal brackets and payroll context

Ordinary income tax brackets and standard deductions for 2026 follow IRS Rev. Proc. 2025-32 ($16,100 single / $32,200 joint standard deduction; seven marginal rates from 10% to 37%). Social Security tax applies at 6.2% on wages up to the $184,500 wage base; Medicare continues at 1.45% with Additional Medicare Tax above threshold wages. These layers stack independently from specialized rules modeled in this fatca form 8938 tool—run the federal income tax calculator when you need the full return picture.

Quarterly estimated tax may be required when withholding does not cover liability—see the quarterly estimated tax calculator. Year-end refund or balance due comparisons belong in the tax refund estimator once withholding and payments are known.

Before filing season

Reconcile this fatca form 8938 calculator estimate against draft Form 1040 lines and attached schedules your software produces. Look for mismatches in basis, carryforwards, and state add-backs—the first pass with a specialized calculator often misses secondary limits that full return software catches. Update inputs when you receive final 1099s, K-1s, and corrected broker statements; January revisions are normal.

If results imply large balance due, adjust withholding or estimated payments before December 31 when possible—penalties accrue on underpayment even when you file timely in April. If results imply large refund, you may be over-withholding or overpaying estimates; tune W-4 or voucher amounts for better cash flow without chasing refunds as a savings strategy.

State returns often piggyback federal logic but diverge on conformity items. Re-run state tools when federal inputs change materially so you do not pay state estimates based on federal-only planning from this fatca form 8938 calculator page.

Sources and methodology

IRC Section 6038D; Form 8938 instructions threshold tables. Educational compliance planning.