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okay for this video i wanted to cover a sample 8938 filing now the 8938 is a statement of specified foreign financial assets so generally this needs to be filed if you as a u.s person so thats a u.s individual taxpayer or if you have certain types of u.s entities so u.s corporations partnerships need to file this disclosure if you as the beneficial owner have foreign financial assets right and those foreign financial assets have to exceed certain thresholds during the year and if they do then you need to file this form with your tax return okay so ive got one sample in front of us here that well walk through and then a slide here with some of the rules and filing thresholds and then the fact pattern that were going to be working with so if we start at the top here and just kind of work our way down again just to reiterate the 8938 filed by us persons that have a beneficial interest in foreign financial assets so these are foreign bank accounts uh foreign investments and stocks and