theOAP

If I understand your situation correctly, you have an joint account with a 'Foreign Person' (even if it's your mother). In this case, you have to declare the full value of the account on Form 8938. You have to report an account of $170K.

Bob

I pointed you in the right direction though, where you'd be able to best search out info.

Because returning to the UK makes no difference to the requirements or not as anyone resident in the US, USC's and LPR's would be required to file if eligible regardless, so you'd have more luck finding the info you wanted. This also still has nothing what so ever to do with UK taxes and the moving to the UK also happens to be irrelevant to your question.

theOAP

The 10 O'clock news has gone and past, it's bedy bye time, so before anyone asks the inevitable question:

The $100k threshold is for spouses (each holding an interest in the joint account). It does not include Foreign Persons who are not filing a joint return with you. (8938 Instructions - page 2, column 3, bottom - Joint interests.) There is no example for your situation. The final reading is on page 4, column 3, "Interests in jointly owned assets".

Also, page 5, column 3, "Other joint ownership".

ian-mstm

Respectfully, you proceed from a false assumption. You'd do well to learn the difference between someone who is a moderator who posts in an official capacity, and someone who is a moderator who posts as a member.

BTW, he doesn't "supposedly" have the title of moderator... he actually has that title.

Ian

Jerseygirl

I'd just like to add to your above comments Ian. Bob is one of the nicest, most helpful people on this forum...I don't think there is one person on BE that would argue with that.

manny1980

I am sorry but I did not find your response very friendly and this is how I felt when you responded to my query. I don't believe my question had, as you stated, "Bugger all" to do with the UK forum. There are some discussions on FBAR and FATCA on "Moving to the UK" forum and that was the main reason why I asked there as I will be moving to the UK in a few months.

Like Jerseygirl stated, I am sure you are a great guy but your response did upset me as I was expecting a more understanding response. I will however add I may have misunderstood your tone and if I did then I apologize.

I acknowledge any efforts from you to help me out. Best wishes.

Bob

Well if suggesting a better place to ask the question or to search out a answer where the majority of similar threads have been posted as well as pointing out how irrelevant the link to the UK and UK taxes might actually be offends you, fair enough.

Good luck and I'll not bother to help in the future

Yorkieabroad

The way I read it, if you have signing authority over an account (albeit a joint account) with 170k in it, you'll have to file the FATCA because it is over the 100k limit applied to you for married filing jointly here. I don't think the IRS will accept that you only have authority over 85k of it (unless you have some written restriction confirming that your control is restricted).

But, if I were you, I'd call the IRS helpline. I've had reason to call them a few times over the last few years with both business and personal queries, and have always found them to be extremely helpful and professional.