From <a href="https:&#x2F;&#x2F;www.irs.gov&#x2F;Businesses&#x2F;Corporations&#x2F;FATCA-Information-for-Individuals" rel="nofollow">https:&#x2F;&#x2F;www.irs.gov&#x2F;Businesses&#x2F;Corporations&#x2F;FATCA-Informatio...</a><p><i>Taxpayers with a total value of specified foreign financial assets below a certain threshold do not have to file Form 8938</i><p>From <a href="https:&#x2F;&#x2F;www.irs.gov&#x2F;Businesses&#x2F;Corporations&#x2F;Do-I-need-to-file-Form-8938-Statement-of-Specified-Foreign-Financial-Assets" rel="nofollow">https:&#x2F;&#x2F;www.irs.gov&#x2F;Businesses&#x2F;Corporations&#x2F;Do-I-need-to-fil...</a><p><i>You must file Form 8938 if:
1. You are a specified individual.</i>
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<i>2. You have an interest in specified foreign financial assets required to be reported.</i>
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<i>3. The aggregate value of your specified foreign financial assets is more than the reporting thresholds that applies to you:
If you are a taxpayer living abroad you must file if:
You are filing a return other than a joint return and the total value of your specified foreign assets is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year</i><p>For once, the IRS pages on this topic seems pretty clear.