2 comments on “3 Reasons To File IRS Form 8938, Statement of Specified Foreign Assets
  1. Chidam says:


    I have not filed Form TD F 90-22.1 last few years.
    I am married and filling jointly from 2008. We transferred US $ to our my spouse Indian account for our loan and family maintenance for our aged parents in India. Whenever the exchange rate is high we transferred the amount into our Indian account and sometimes it exists more than $10,000 a year but less than $50,000.
    Do we need to file Form TD F 90-22.1 from 2008?
    Do we need to file Form 8938 also?
    Please advice us.
    Chidam Alagar

    • Tom Scanlon says:


      Yes, TD F 90-22.1 is due if the account goes over $10,000 at any time during the year.

      No, you do not need to file IRS Form 8938. This is due for a married couple filing a joint return if the value at December 31, was $100,000 or more or if the value ever exceeded $150,000.

      I hope this helps.