Form 8938 is for FATCA and living abroad filing single or head of household, it only applies if you have more than US$300k in specified foreign assets any time during the year, or US$200k on the last day of the year. Social Security type assets like CPF are exempt, as is real estate unless it’s a rental property. Anything sitting in an account with Citibank here is also exempt because it is a US owned subsidiary of a US bank.sundaymorningstaple wrote: ↑Wed, 23 Feb 2022 2:23 pmI cannot find if it's mandatory any more, but form 8938 used to be required and was noted on Sch B at the bottom of the page where the three tick boxes are and FINCEN is mentioned (dependent on which tick boxes were ticked yes). It's no longer noted on Sch B but I've been filing it with my return every year including this year (not filed yet but getting there shortly) as the form hasn't been redacted so I would assume it is still necessary.
Yes, the §6013(g) election is a smart move if your spouse is expected to have little or no income both now and in the future (and you aren’t tax sheltering any serious investments under their name).Oh, going with the change to MFJ as what I can gather I can just submit with the W-7 and certified identity docs (the reason I was at the Sg Academy of Law) and mail it using the private mail services like DHL to a special address in Austin, TX (special for ITIN initial applications).
You will have to attach an extra page to your return for the first time, you can find plenty of §6013(g) election templates online. Last time when my brother brought his Filipina wife to the US he had to make a §6013(h) election, which is for first year residents. No templates online for that one, so I made one for him.