In this episode, we dive into the IRS reporting requirements for foreign financial assets. If you had over $50,000 USD at the end of the year or more than $75,000 at any time in foreign accounts, you may need to file Form 8938 with your tax return. We’ll discuss how this differs from the FinCEN Form 114 (FBAR) and the critical details you need to know to stay compliant. Tune in to learn the filing thresholds, how to value your foreign assets, common exceptions, and the hefty penalties for non-compliance. Don’t let confusion around foreign account reporting cost you—get informed today!