8938 instructions-2026

1. Click ‘Get Form’ to open the 8938 instructions in the editor.
2. Begin by reviewing the purpose of Form 8938, which is to report specified foreign financial assets exceeding certain thresholds. Familiarize yourself with the reporting thresholds based on your filing status.
3. Fill in your identifying information at the top of the form, including your name and taxpayer identification number (TIN). Ensure accuracy as this information is crucial for processing.
4. In Part I, summarize your foreign deposit and custodial accounts. Report the maximum value of these accounts during the tax year and indicate if any were closed.
5. Proceed to Part II to summarize other foreign assets not held in a financial account. Provide details such as descriptions and maximum values for each asset.
6. Complete Part III by entering tax items attributable to your specified foreign financial assets, ensuring all income types are reported accurately.
7. Finally, review all entries for completeness and accuracy before submitting your form along with your annual return.

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