Part V. Detailed Information for Each Foreign Deposit and Custodial Account Included in…

Use Part V to report information for foreign deposit and custodial accounts. If you have more than one account, attach an additional statement with the required information for each additional account and check the box at the top of page 1 of the form.

Line 23

Enter the maximum value of the account during the tax year.

See Reporting Maximum

TIP Value , earlier, for information

on determining the maximum value of the account.

Joint Interests in Foreign Deposit and Custodial Accounts

Use the following rules to determine the maximum value to report.

Spouses Filing a Joint Return

You and your spouse report the maximum value of an account held jointly by you and your spouse only once on the single Form 8938 filed with your joint income tax return.

Spouses Filing Separate Returns

You and your spouse each report the maximum value of an account held jointly by you and your spouse on your separate Forms 8938 filed with your separate income tax returns.

Lines 20 Through 28

Enter the following information for each foreign deposit or custodial account.

Line 20

Check the box to indicate if this is a depository or a custodial account.

Line 21

Enter the account number of the account or other specific identifying information for the account if there is no account number.

Line 22

Check one or more boxes to indicate if any of the following applies.

• The account was opened during the tax year.

• The account was closed during the tax year.

• The account was jointly owned with your spouse.

• You did not report any tax item in Part III for this asset.

Other Joint Owners

Report the maximum value of the entire jointly held account on your Form 8938 filed with your income tax return, regardless of the value of your separate interest in the account.

Lines 24 and 25

If you used a foreign currency exchange rate to convert the value of the account into U.S. dollars, check the “Yes” box on line 24 and go to line 25. Otherwise, check the “No” box and go to line 26.

Line 25

If you answered “Yes” on line 24, enter the following information.

1. The foreign currency in which the account is maintained.

2. The foreign currency exchange rate used to convert the value of the account into U.S. dollars.

3. If the U.S. Treasury Bureau of the Fiscal Service did not provide an exchange rate, the source of the foreign currency exchange rate that you used.

You must use the foreign