What foreign financial accounts do I have to declare on my U.S. tax return?
U.S. taxpayers with foreign financial accounts must disclose them in several places. Schedule B Part III asks whether you have any foreign accounts. The FBAR (FinCEN 114) must be filed separately if the aggregate balances exceed $10,000. Form 8938 is attached to Form 1040 if specified foreign assets exceed your threshold.
Where foreign accounts show up on your return:
- Schedule B Part III: Yes/No foreign account question plus country list
- Form 8938: Attached to 1040 if threshold met
- Form 1040 digital asset question: Yes/No about crypto
- Form 1116: If claiming FTC on foreign-source income
- FBAR: Separately via BSA E-Filing
Accounts typically reported:
| Account | Schedule B | FBAR | Form 8938 |
| Foreign bank | Yes | Yes over $10k | Yes over threshold |
| Foreign brokerage | Yes | Yes over $10k | Yes over threshold |
| Foreign pension | Yes | Yes over $10k | Yes over threshold |
| Foreign life insurance (cash value) | Yes | Yes over $10k | Yes over threshold |
| Signature only | Yes | Yes | No |
| Foreign stock (direct, not in account) | No | No | Yes over threshold |
Schedule B question nuances:
- Answer ‘Yes‘ even if FBAR is not required
- Name each country where you have an account
- Answer ‘Yes‘ if you have signature authority
For account disclosure help, see our FBAR Reporting Guide.
Last updated on April 29, 2026
