8938 SPECIFIED DOMESTIC ENTITY

jenfin · Post by **jenfin** » Fri Mar 14, 2014 9:13 pm

I noticed some potentially scary language in the 8938 instructions. A caution that the IRS anticipates issuing regulations in the future that will require a "domestic entity" to file form 8938 if the "entity is formed or availed of to hold specified foreign financial assets." What does that suggest?. I hope it doesn't consider a married couple a "domestic entity" My husband (not a US person)wouldn't look kindly on having to report his business to the IRS. We didn't get married (entity formed) to hold financial assets but I'm not sure what is meant by the "availed of". Or is a domestic entity something entirely different?

Regards,

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