◉ Foreign Asset Reporting
FATCA reporting (Form 8938)
Report specified foreign financial assets on Form 8938 when thresholds are met — separate from, and in addition to, FBAR.
Short answer
Form 8938 (FATCA) is filed with your Form 1040 when your specified foreign financial assets exceed the threshold for your filing status — for a US person living abroad, $200,000 at year-end or $300,000 at any time (double for married filing jointly). It does not replace the FBAR; many UK-based Americans must file both.
Overview
Why this filing matters
Report specified foreign financial assets on Form 8938 when thresholds are met — separate from, and in addition to, FBAR.
Note — >$200k in specified foreign assets (living abroad, MFJ threshold higher).
◉ Who this is for
- •US persons abroad with foreign assets over the 8938 threshold
✓ What you get
- ✓Form 8938 preparation
- ✓Asset classification & threshold analysis
At a glance
- Key forms
- 8938
- Category
- Foreign Asset Reporting
- Turnaround
- 2–3 weeks once documents are complete
- Filed by
- ACCA-qualified IRS Enrolled Agent
Our approach
Every account mapped before anything is filed.
FBAR, Form 8938 and Form 8621 overlap but are not the same: different thresholds, different account definitions, different homes (FinCEN vs your 1040), and different penalties. A UK current account, an ISA, a workplace pension and a stocks-and-shares account can each land on a different form — or on two.
We start by mapping every foreign account and asset you hold or have signature authority over, then slot each one onto the forms that actually apply, so nothing is double-counted and nothing is missed. Where an ISA or fund turns out to be a PFIC, we catch it before it becomes a Form 8621 problem.
- Full account and asset inventory, with signature-authority holdings included
- Each asset mapped to FBAR, 8938 and/or 8621 — no double-counting, no gaps
- PFIC exposure inside ISAs and funds identified before it compounds
Our process
How we handle your filing
Four steps from first email to filed return. Fixed fee confirmed in writing before any work begins.
01
Intake
Send us your situation by email or the enquiry form. We come back with the questions we need answered — every source of income for the year, filing history, accounts and entities — and a tailored document list.
02
Review
We analyse your position, flag any cross-border risks, and confirm the scope and fixed fee in writing before any work starts.
03
Prepare
Draft returns and schedules are prepared with plain-English commentary on key positions for your review.
04
File
You sign electronically; we e-file with the IRS / FinCEN and send you the acceptance confirmations for your records.
Pricing
Fixed fees — no surprises
Form 8938 is £150–£300 + VAT when filed with your 1040, depending on the number of accounts. Standalone valuation support for complex assets (private companies, partnership interests) is quoted separately.
Prices are indicative starting points and exclude UK VAT, which applies to UK-resident clients only. We quote in writing once we have confirmed every source of income and your filing history for the years involved.
FAQs
Common questions
Sources
Rules, thresholds and penalties are as published by the IRS and FinCEN at the time of our last review (2026-09-08); always check the current instructions for the year you are filing.
Related services
Others in Foreign Asset Reporting
FBAR — Foreign Bank Account Reporting (FinCEN 114)
Required if your foreign financial accounts exceeded $10,000 in aggregate at any point during the calendar year.
Learn more →
PFIC / ISA reporting (Form 8621)
UK ISAs, unit trusts, and OEICs are typically PFICs for US tax purposes — triggering punitive taxation unless elected properly.
Learn more →
Who this is for
Situations where this filing usually applies
Ready to get this filed?
Tell us your situation and we’ll reply by email within 2 working days with our questions, then a written scope, fixed fee and document list.