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Ohio online Form Instructions 8938: What You Should Know
IRS Form 8938 What It Is, and Who Needs to File? A taxpayer who files Form 8938 has a choice whether to report foreign financial assets. As such, the form determines whether you have to report specified foreign financial assets in a Form 8938. The table below shows what is required. You can find the instructions for the Form 8938 here. Who Needs to File? Certain individuals listed in Section 1A.9 of Form 8938 must file a Form 8938. There are various criteria to meet in order to qualify for this requirement: 1. Taxpayers under age 49 who own or carry a financial institution listed on Schedule I on their income tax return. 2. Individuals who have a business or activity located abroad or a significant part of their trade or business is located abroad. 3. Active and retired members of the Uniformed Services, members of a reserve component of the Armed Forces, and officers or employees of the Government of the United States whose duty station is outside the United States. 4. Persons who were present in the U.S. at the time of the disposition, including those who were in the United States on a temporary basis, for the purpose of the treatment of certain property acquired here. 5. Nonimmigrants who are in the United States during their entire stay. 6. Those on the U.S. Treasury's list of persons who meet the definition of business assets for the purpose of U.S. federal income taxes. 7. Nonimmigrants who are in the United States for the purpose of receiving benefits under their U.S. Social Security benefits. 8. Individuals receiving specified U.S. government financial assistance, including aid to students, or international students. 9. Those who were born in another country to persons on the List for the purpose of receiving specified financial assistance from U.S. government sources. 10. Nonimmigrants who are physically present in the United States during their entire stay. 12. Members of the United States armed forces stationed abroad on official duty. This includes military personnel, members of reserve components in the Army and Navy, and civilian employees of the Department of Defense. 13. Employees of the U.S. Government engaged in international trade and commerce. 14. Representatives of public charities and not-for-profit corporations in the United States. 15. U.S. Government employees who are physically present in the United States. 16.
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