US TAX Forms For Foreign Accounts or Assets | FORM 114 | FORM 8938 | FORM 3520

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US TAX Forms For Foreign Accounts or Assets.

If Foreign Assets are more than are equal to $10,000 - Form 114
If Foreign Assets are more than are equal to $50,000 - Form 8938
If Foreign Assets are more than are equal to $100,000 - Form 3520

If the total value of the foreign assets are $10,000 and above or below $50,000 you need to file FinCen Form 114 with FBAR not with IRS.

If the Value of foreign assets are $50,000 or more you need to file Form 8938 with IRS along with your 1040 taxes.

File Form 3520 when a person receives an amount from an Inheritance or a Foreign Gift or a Foreign Trust Distribution from a Foreign Person/Estate or Foreign Business or Foreign Trust. You need to report to IRS. There are 3 different types.

Please watch the YouTube videos below for more Information.

How to File FBAR FinCEN Form 114 | How do I report a foreign bank account (s) on my tax return 2022
   • How to File FBAR FinCEN Form 114 | Ho...  

How to FILL or FILE FinCEN Form 114 online or eFile
   • How to FILL or FILE FinCEN Form 114 o...  

Form 8938 - 2022 | How to Report Foreign Accounts in US if the value is more than $50,000 | Form8938
   • Form 8938 - 2022 | How to Report Fore...  

Form 3520 to Report Foreign or Overseas Inheritance | Foreign Gifts | Inheriting Foreign Assets 2022
   • Form 3520 to Report Foreign or Overse...  

My YouTube Video on
How To Transfer Money From India to a Foreign Bank | GST Fees | Repatriation or Remittance From NRO
   • How To Transfer Money From India to a...  

My YouTube Playlist for the videos on Form 114, Form 3520 and Form 8938.
   • How to - Foreign Assets Filing &  US ...  

My YouTube Video on OCI update
   • OCI Update or Renew | OCI | OCI Card ...  

:DISCLAIMER:
THIS IS NOT A CPA OR LEGAL OR INVESTMENT OR FINANCIAL ADVICE AND I AM NOT A LEGAL OR CPA OR IRS ENROLLED AGENT OR FINANCIAL SERVICES PROFESSIONAL. THIS VIDEO IS JUST FOR EDUCATIONAL PURPOSES ONLY.

Hope this helps!

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