Specified Foreign Financial Assets.

Established thresholds.

          - Taxpayers resident outside the United States:

               - Unmarried or married filing separate tax returns:  Total value of specified foreign financial assets SFFA  was more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year.

               - Married taxpayers filing joint return:  Total value of SFFA was more than $400,000 on the last day of the tax year or more than $600,000 at any time during the year.

         - Taxpayers resident in the United States: 

               - Unmarried or married filing separate tax returns:  Total value of SFFA was more than $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year.

               - Married taxpayers filing joint return:  Total value of SFFA was more than $100,000 on the last day of the tax year or more than $150,000 at any time during the tax year.

          - Possible other filing requirements may also apply.

Specified foreign financial assets include:

      - Financial accounts maintained by a foreign financial institution.

     - Financial assets held for investment: 
          - Stock or securities issued by someone not a US person.
          - Any interest in a foreign entity.
          - Any financial instrument or contract that has an issuer or counter-party that is not a US person.