Do I need to file an FBAR and/or Form 8938?
A short conversation about your US status and your accounts outside the US. Ballpark answers are fine, it takes about two minutes, and nothing you enter leaves your browser.
US Tax Professionals
FBAR & Form 8938 check · about two minutes
FBAR and Form 8938 are two different filings
The FBAR (FinCEN Form 114) goes to the Treasury's Financial Crimes Enforcement Network. Every US person files one when their foreign financial accounts add up to more than $10,000 at any point in the year. It is filed online through FinCEN's BSA E-Filing System, separately from your tax return. It is due April 15, with an automatic extension to October 15. Form 8938 is attached to your US income tax return. It has much higher thresholds and covers some assets the FBAR doesn't, such as foreign shares held outside an account. Many people in Canada have to file both.
Form 8938 thresholds
You file if the total value is over either amount: on the last day of the year, or at any time during the year.
| Filing status | Living in the US | Living abroad |
|---|---|---|
| Unmarried, or married filing separately | $50,000 / $75,000 | $200,000 / $300,000 |
| Married filing jointly | $100,000 / $150,000 | $400,000 / $600,000 |
Year-end value / highest value at any time, in US dollars.
Accounts that count (FBAR and Form 8938)
Registered accounts are not exempt. RRSPs, RRIFs, TFSAs, RESPs, and FHSAs are foreign accounts for US purposes and count toward both thresholds, as do bank accounts, GICs, brokerage accounts, and cash-value life insurance. CPP/QPP and OAS are foreign social security and are not reported on either form.
For FBAR, joint accounts count at their full value, not your share. That includes an account a parent added your name to, which is one of the most commonly missed FBAR items. For Form 8938, assets held jointly with someone other than your spouse also count at full value; assets held with a spouse depend on how you file. Crypto on a Canadian or other non-US platform can count, while crypto on a US platform or in your own wallet generally does not.
Other foreign assets (Form 8938)
Form 8938 also covers some assets that are not accounts, such as shares in a Canadian company held directly rather than through a brokerage. Employer pensions count for Form 8938; defined benefit plans are usually left off the FBAR but are worth reviewing plan by plan. Form 8938 is only filed with a US income tax return, so it applies when you are required to file one and your assets are over the threshold.
Your answers stay private
The quiz runs entirely in your browser. Your answers are not sent to us or stored anywhere. For anything the quiz can't settle, a conversation is the better route.
Sources
The quiz logic was checked against the following guidance in October 2026. Thresholds shown in Canadian dollars are converted at the US Treasury's December 31 reporting rate, which is the rate both forms use.