Wednesday, April 15, 2015

Important information to include in spreadsheets for 8938

I had to edit my spreadsheets and re-read bank statements 6-8 times :( because I missed out information that I should have typed out in the spreadsheet (to make it easier when the time comes for filling in forms 8938 and FBAR - "copy/paste")
So, to make it easier for all of you, here is a checklist of information you should include in your spreadsheet while doing the calculations:-
1) Total interest earnings
2) Total amount in all foreign bank accounts
3) Addresses of foreign banks
4) All foreign bank account numbers
5) Amount in each and every foreign bank account