Correcting Form 8938

[cat]

Hello,
I feel sick to my stomach. I started to organize my US and Canadian tax documents for 2023 and discovered that my Canadian credit union changed my folio/account number back in 2021 and never notified me and I didn't see this until now!

I've read up on how to file amended FBARs but how to you amend Form 8938? I've read you need to submit amended returns through the mail seperately for each year. Do you have use the 1040X with a corrected 8938 and resubmit all other forms and schedules (2555, Sch. 1,& B) as well?

Any guidance is appreciated.
Thanks in advance.

[nelsona]

I would simply change it for 2023 going forward. Itr is not a material change to the form or its content.

[cat]

Thank you nelsona I am truly grateful for your reply and may sleep better tonight.

So the change on the 8938 would be to report the original account# as 'closed' with no tax item reported and the 'new' account# reported as 'opened' showing the taxable interest on the 1040 and Schedule B.

For the 2023 FBAR reporting would I also report both the original and new account.

Does that sound about right?

[nelsona]

As you wish.