FATCA - Any good tools on how and where to file this?

[regulustera]

I know, FATCA is evil and shouldn't exist, the usual, but I'm not planning to get rid of my US citizenship so I have to deal with this. Has anybody previously filed this? I used to do my tax filing in the US via TurboTax, and I know there are some free alternatives provided by the government if you are willing to deal with Uncle Sam's BS. But I wonder how accessible those are for people leaving abroad. I would rather try to avoid paying any exorbitant amounts of money hiring lawyers or whatever to get a simple tax filing done when most of my life it has been nearly self-service.

 

[arvest]

FATCA is the act, FBAR is the form you must file. Do you have more than $10,000 USD abroad in all your foreign bank accounts combined?

 

[lunar]

FATCA is the act, FBAR is the form you must file. Do you have more than $10,000 USD abroad in all your foreign bank accounts combined?

He probably means Form 8938.

But in any case, nobody forces you to pay "exorbitant amounts of money". Printing out PDF forms from the IRS site, filling them out and sending by certified mail is still an option.

 

[regulustera]

FATCA is the act, FBAR is the form you must file. Do you have more than $10,000 USD abroad in all your foreign bank accounts combined?

He probably means Form 8938.

But in any case, nobody forces you to pay "exorbitant amounts of money". Printing out PDF forms from the IRS site, filling them out and sending by certified mail is still an option.

I guess my question is along the lines of whether this can be filed electronically. To answer the previous question, I don't hold more than 10K abroad, but Form 8938 is still required with my regular tax return?

 

[lunar]

I don't hold more than 10K abroad, but Form 8938 is still required with my regular tax return?

I think, 200k in foreign assets minimum requirement for people living abroad. (Not a tax advice, please read the form instructions).

 

[arvest]

I guess my question is along the lines of whether this can be filed electronically. To answer the previous question, I don't hold more than 10K abroad, but Form 8938 is still required with my regular tax return?

If you never had more than $10,000 combined in all your foreign bank accounts during the year you do not need to do any FBAR report on your foreign accounts.