Under FATCA, U.S. citizens and residents must file Form 8938 if their foreign financial assets have an aggregate value of $50,000 or more. However, the IRS indicates that holding precious metals directly for investment purposes does not require filing this form. Nevertheless, the definition of “directly held” remains loosely defined.
We encourage you to consult your tax advisor if you have doubts about filing Form 8938. In addition, we are always available to assist you with any questions you may have.
For assistance, email us at accounts@strategicgold.com or call 239 692-9154.
