Form 8398-2026

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The document is an IRS Form 8398, dated March 2010, which serves as a deficiency checksheet for employee plans regarding the treatment of leased employees. It outlines the necessary amendments and information required from organizations that utilize leased employees to ensure compliance with IRS regulations under sections 401(a), 403(a), and 414(n) of the Internal Revenue Code. The document specifies requirements for describing the business, leasing agreements, employee functions, and plan qualifications related to leased employees.

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Click ‘Get Form’ to open it in the editor.
Begin by providing a description of your organization’s business in the designated field. This information is crucial for the IRS to understand your operations.
Upload a copy of the relevant leasing agreement(s) using the upload feature in our editor. Ensure that all agreements are clear and legible.
Detail the functions of all leased employees within your trade or business. Specify if they work full-time and under your organization’s direction.
If applicable, describe any qualified plans maintained by the leasing organization, including contributions and benefits for leased employees.
Indicate whether services provided by leased employees meet specific criteria outlined in sections 414(n)(2)(A) through (C).
Finally, ensure that your plan amendments reflect how leased employees will be treated under your plan, as required by IRS regulations.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do you file both FBAR and 8938?

Depending on your situation, you may be required to file Form 8938 or the FBAR or both forms, and certain foreign accounts may be required to be reported on both forms.

What is the difference between form 8938 and FBAR?

FBAR captures the account itself; Form 8938 digs into the assets insideespecially if theyre tied to foreign entities or income-producing investments. The two forms have different reporting requirements, filing thresholds, and enforcement arms.

What is the threshold for FATCA 8938?

Reporting thresholds If you are single or file separately from your spouse, you must submit a Form 8938 if you have more than $200,000 of specified foreign financial assets at the end of the year and you live abroad; or more than $50,000, if you live in the United States.

What happens if you dont file form 8938?

Failure to report foreign financial assets on Form 8938 may result in a penalty of $10,000 (and a penalty up to $50,000 for continued failure after IRS notification).

What is the IRS form 8868 used for?

Form 8868 is used by an exempt organization to request an automatic 6-month extension of time to file its return. Also, the trustee of a trust required to file Form 1041-A or Form 5227 must use Form 8868 to request an extension of time to file those returns.

form 8398

Form 3520 Form 8398 instructions Form 8938 threshold Form 8938 PDF Form 8398 download Form 8398 online Form 8398 pdf Form 8398 instructions pdf

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What is the filing deadline for form 8938?

Comparison snapshot: FeatureForm 8938FBAR (FinCEN 114) Assets reported Broader range: includes foreign stocks, pensions, partnerships Only financial accounts (bank, brokerage, etc.) Due date With your tax return (April 15 / Oct 15 with extension) April 15 (automatic extension to Oct 15)3 more rows Apr 15, 2025

Who needs to file IRS form 8938?

Certain domestic corporations, partnerships, and trusts that are considered formed or availed of for the purpose of holding, directly or indirectly, specified foreign financial assets (specified domestic entities) must file Form 8938 if the total value of those assets exceeds $50,000 on the last day of the tax year or

Who must file form 8938?

U.S. citizens, U.S. residents, certain residents of U.S. Possessions, and nonresidents who elect to be treated as U.S. residents will have to fill out this form if they hold financial accounts or certain assets held for investment (deemed specified persons).

Form 8398-2026

Here's how it works

How to use or fill out form 8398 with our platform

Complete this form in 5 minutes or less

Got questions?

Do you file both FBAR and 8938?

What is the difference between form 8938 and FBAR?

What is the threshold for FATCA 8938?

What happens if you dont file form 8938?

What is the IRS form 8868 used for?

Security and compliance

Complete this form in 5 minutes or less

People also ask

What is the filing deadline for form 8938?

Who needs to file IRS form 8938?

Who must file form 8938?

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