| Type of Account |
Form 8938 |
FBAR |
| Financial (deposit and custodial) accounts held at foreign financial institutions |
Yes |
Yes |
| Financial account held at a foreign branch of a U.S. financial institution |
No |
Yes |
| Financial account held at a U.S. branch of a foreign financial institution |
No |
No |
| Foreign financial account for which you have signature authority |
No, unless you otherwise have an interest in the account as described above |
Yes, subject to exceptions |
| Foreign stock or securities held in a financial account at a foreign financial institution |
The account itself is subject to reporting, but the contents of the account do not have to be separately reported |
The account itself is subject to reporting, but the contents of the account do not have to be separately reported |
| Foreign stock or securities not held in a financial account |
Yes |
No |
| Foreign partnership interests |
Yes |
No |
| Indirect interests in foreign financial assets through an entity |
No |
Yes, if sufficient ownership or beneficial interest (i.e., a greater than 50 percent interest) in the entity. |
| Foreign mutual funds |
Yes |
Yes |
| Domestic mutual fund investing in foreign stocks and securities |
No |
No |
| Foreign accounts and foreign non-account investment assets held by foreign or domestic grantor trust for which you are the grantor |
Yes, as to both foreign accounts and foreign non-account investment assets |
Yes, as to foreign accounts |
| Foreign-issued life insurance or annuity contract with a cash value |
Yes |
Yes |
| Foreign hedge funds and foreign private equity funds |
Yes |
No |
| Foreign real estate held directly |
No |
No |
| Foreign real estate held through a foreign entity |
No, but the foreign entity itself is a specified foreign financial asset and its maximum value includes the value of the real estate |
No |
| Foreign currency held directly |
No |
No |
| Precious Metals held directly |
No |
No |
| Personal property, held directly, such as art, antiques, jewelry, cars and other collectibles |
No |
No |
| “Social Security”- type program benefits provided by a foreign government |
No |
No |
All About Randall Brody
Randall is the Founder of Tax Samaritan, a boutique firm specializing in the preparation of taxes and the resolution of tax problems for Americans living abroad, as well as the other unique tax issues that apply to taxpayers. Here, they help taxpayers save money on their tax returns.