Form 8938 vs. FBAR Requirements [Infographic]

Freeman Tax Law specializes in reporting overseas assets, which is often a convoluted process that can bring heavy penalties if not navigated correctly.  A major point of confusion is the different requirements between Form 8938 and the FinCEN Form 114 (Report of Foreign Bank and Financial Accounts or FBAR), and the requirements for each, so we created an infographic Form 8938 vs. FBAR to clearly delineate the two.  Please note that filing Form 8938 does not replace or otherwise affect a taxpayer’s obligation to file the FBAR form.  If you need further assistance in transferring money from overseas, please contact Freeman Tax Law via the form on this page.