Foreign accounts & overseas assets
International Tax Reporting & Compliance
FBAR, FATCA and PFIC filing support for U.S. taxpayers with foreign bank accounts, investments and financial assets — from our Cumberland, RI office or remotely.
International reporting support
Foreign Bank Accounts & Assets: Know Your Obligations
Have foreign bank accounts or overseas financial assets? EZ Tax Works LLC helps you identify applicable IRS and FinCEN reporting requirements and prepare accurate disclosures. Foreign-account reporting and the taxation of the investments within those accounts are separate obligations; we review both.
FBAR · FinCEN Form 114
Review and reporting of foreign financial accounts when applicable FBAR requirements are met, including coordination with your other international tax disclosures.
Learn moreFATCA · Form 8938
Reporting of specified foreign financial assets with your federal tax return when required, with a review of the thresholds that apply to your filing status and residence.
Learn morePFIC Filing Services · Form 8621
PFIC analysis and determination, Form 8621 preparation and filing, foreign mutual fund and investment account reviews, gain and distribution calculations, Mark-to-Market and QEF election analysis, and multi-year reporting assistance.
Learn moreForm 8938 (FATCA) Filing Thresholds
Form 8938 is required only when the total value of your specified foreign financial assets exceeds the reporting threshold for your filing status and residence. If any threshold below is met, you must file.
Taxpayers living in the United States
| Filing status | More than, on the last day of the tax year | More than, at any time during the year |
|---|---|---|
| Single or Married Filing Separately | $50,000 | $75,000 |
| Married Filing Jointly | $100,000 | $200,000 |
| Head of Household | $50,000 | $75,000 |
Taxpayers living abroad
| Filing status | More than, on the last day of the tax year | More than, at any time during the year |
|---|---|---|
| Single, Married Filing Separately or Head of Household | $200,000 | $300,000 |
| Married Filing Jointly | $400,000 | $600,000 |
To whom FATCA applies
- U.S. citizens
- Lawful permanent residents (Green Card holders)
- Resident aliens for tax purposes — including those meeting the substantial presence test, such as H-1B and L-1 visa holders
- Certain domestic entities formed or availed of to hold foreign financial assets
These thresholds can change by tax year — always confirm the amounts for the year you are filing. For the current requirements, see the official IRS Instructions for Form 8938. Thresholds are based on the total value of specified foreign financial assets, and higher thresholds apply to taxpayers living abroad. Form 8938 is separate from the FBAR — many taxpayers must file both for the same accounts. We review the thresholds that apply to your specific situation.
International Tax Reporting FAQs
Do FBAR, FATCA and PFIC filings replace each other?
No. FBAR (FinCEN Form 114), FATCA reporting (Form 8938) and Form 8621 serve different purposes. More than one may apply to the same foreign holdings. We coordinate the disclosures to help keep your reporting consistent.
Can you help if I live outside Rhode Island?
Yes. We serve clients from our Cumberland, RI office or remotely through our secure client portal.
Can you review missed or prior-year international filings?
Yes. We review missed foreign-account and asset disclosures and help evaluate the appropriate correction approach based on your facts and available IRS procedures.
Need Help with PFIC Reporting?
PFIC tax reporting can be extremely complicated, and errors can be costly. Our experienced team helps you understand your reporting obligations and prepare the required IRS forms accurately.
Contact EZ Tax Works LLC for professional PFIC filing assistance and international tax compliance support.
Schedule a consultation and let us help you stay compliant with U.S. international tax reporting requirements.