Completing Form 8938
 

I am hoping I can get some guidance on completing this form :-

a) Is a private pension in the UK reported as a "Foreign Deposit and Custodial Account "( Section V) or " Other Foreign Acct" ( Section VI)?

b) How do I calculate Maximum Value of Account during year when each of the underlying funds changed price each day, as did the exchange rate ?

Thanks in advance.

Re: Completing Form 8938
 

Most professionals report it in Section VI; unless it is a foreign grantor trust so you'd have filed the 3520-A back in March and be filing a 3520 with the rest of your return.

Re: Completing Form 8938
 

See Q7 at the bottom of the page:

https://www.irs.gov/businesses/corpo...38#FPensionsQ1

You should use the Treasury Foreign Exchange rate as at December 31. See the center column at the bottom of Page 7:

https://www.irs.gov/pub/irs-pdf/i8938.pdf

Re: Completing Form 8938
 

Many thanks for the quick responses. Very much appreciated.