01
Threshold review
Review of filing status and the applicable living-abroad facts before applying the Form 8938 threshold.
Form 8938 preparation
Foreign-asset reporting, scoped with the return it belongs to.
Form 8938 is not a standalone checklist. Filing status, residence, asset type, value, ownership, and other international forms all affect what belongs on the return.
Scope before payment: The engagement covers accepted preparation work, not treaty opinions, entity classification, legal advice, penalty defense, or IRS representation.
Clear deliverables
What the accepted Form 8938 scope can include
Your written scope controls. If a form or legal issue falls outside it, you will know before preparation begins.
02
Asset inventory
A structured list of accepted foreign accounts and other specified foreign financial assets.
03
Cross-form coordination
Preparation-level coordination with FBAR and other accepted international reporting to reduce omissions and inconsistent entries.
04
Return attachment and review
Preparation of Form 8938 with the accepted return, followed by your review before filing.
The process
From intake to a reviewed filing
No sales maze and no silent handoff. You receive the next step in writing.
- 1
Complete the intake
Identify filing status, country, broad asset categories, ownership, approximate values, and related foreign entities.
- 2
Map thresholds and forms
I identify the likely Form 8938 threshold and any additional forms that need separate screening.
- 3
Approve the written scope
Accepted assets, forms, records, limitations, and price are confirmed before preparation.
- 4
Review with the return
You review the Form 8938 information in the context of the complete accepted return.
Fit and limits
Before I accept the work
- Form 8938 and FBAR obligations are separate.
- Foreign corporations, partnerships, trusts, gifts, and mutual funds may trigger other forms.
- Asset value and ownership questions can require records beyond year-end statements.
- Late or omitted reporting may require a different corrective-filing scope.
Questions before you start
Frequently asked questions
Is Form 8938 the same as an FBAR?
No. Form 8938 is filed with an income-tax return under FATCA rules; the FBAR is filed separately with FinCEN. The thresholds, definitions, and reporting details differ, and some assets can appear on both.
Are the thresholds higher for taxpayers living abroad?
Form 8938 has different thresholds based on filing status and whether the taxpayer qualifies as living abroad under the applicable rules. The correct threshold requires a facts review rather than a location alone.
Does every foreign asset go on Form 8938?
No. The form covers specified foreign financial assets, with detailed definitions, exceptions, and cross-reporting rules. Directly held foreign real estate, for example, is not itself a specified foreign financial asset, although an interest in a foreign entity holding property can raise different reporting issues.
Can you prepare Form 8938 by itself?
Because Form 8938 is attached to an income-tax return, the surrounding return and filing posture must be reviewed. Accepted work is quoted after intake and documented in the engagement scope.
Know your next step before you pay.
Start the intake or scope call and receive the preparation path in writing.