# FBAR, 8938 ,& Accounts



## Guest

Just sitting here thinking.....

How does the IRS look at an ESOP (employee share ownership program) for us Canadians.

I still recieve dividends, and have filed and accounted for these payments on my CRA and 1040 reports. However, I did not list the ESOP on my FBAR because it was under 10k and number of Accountants (with and without PTIN#s) advised me that ESOP has nothing to do with FBAR.

Anyway.....I got out of the program many years ago...in other words I don't contribute so the value of the plan is under $100 dollars (one hundred). I sold most of the shares years and years ago.....at a loss....and my company shares usually go DOWN in value not up ...in other words the dividend payout is pennies.

Anyway...looking at the 8938, I am sure that I must tabulate it on this form because it asks for dividend payments...however (head spinning) do I include it on this form if the aggragate value is under 10k or 50K....help!

On a more realistic note....if ESOP is supposed to be filed with FBAR and was not....can they penalize me $10,000 dollars for an account that only has a value of $84 dollars in it??


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