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FATCA Question.

By JDAR in Tax & Finances During US Immigration

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  • 2 weeks later...
patriot10 Contributor

patriot10   11

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Filed: Other Country: India
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The figure is $10000/- . If you have financial assets above 10000 usd, you have to file.

Collectibles, bullion, property, art etc is not counted...just financial assets...bank accounts, mutual funds, stocks etc.

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JDAR Apprentice

JDAR   2

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Filed: K-1 Visa Country: United Kingdom
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I believe you're thinking of FBAR which I'm aware of and have to file. That is reported to the Treasury directly and not part of your tax return. FBAR is for overseas accounts of more than $10000. FACTA is form 8938 which asks whether your overseas accounts exceeded  $50000 if filing separately or $100000 filing jointly on the 31st of Dec. As they didn't, from my research it appears that we do not have to file it as we do not meet the reporting criteria.

 

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