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Question

My wife has a Kiwisaver retirement account in New Zealand. It amounts to about $4800. Do I need to report this as foreign asset?

Forum|Forum|1 year ago
February 17, 2025
1 reply
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Most likely not, because of the amount- you would only need to report if the total value of your specified foreign financial assets is more than $100,000 on the last day of the tax year or more than $150,000 at any time during the tax year (married filing joint, living in the U.S.). You can check all the requirements at Do I need to file Form 8938, Statement of Specified Foreign Assets?