Note
FBAR and Form 8938 for Americans with a Spanish property
Quick answer
An FBAR is required if foreign financial accounts exceeded $10,000 in total at any time in the year, and is due April 15, filed electronically with FinCEN. Form 8938 has higher thresholds for those living abroad. Foreign real estate held directly is not reportable on either form.
Applies toAmerican buyers who open Spanish bank accounts, and owners who want to know what they must report.
On this page: 9 sections
§ 1Two reports
Americans with foreign financial assets may need to file two reports. The FBAR, Report of Foreign Bank and Financial Accounts, goes to FinCEN. Form 8938 goes with the tax return. They overlap but have different thresholds and rules. The IRS publishes a comparison table. This page belongs to the chapter in the rules on American buyers.
§ 2The FBAR
The IRS says a US person with a financial interest in, or signature authority over, foreign financial accounts must file if the aggregate value exceeded $10,000 at any time in the calendar year. It is due April 15, with an automatic extension, and is filed electronically through FinCEN’s system, not with the return. A Spanish current account used for the home’s bills counts as a foreign financial account.
§ 3Form 8938
Form 8938 has thresholds that depend on where you live and your filing status. For taxpayers living abroad, the IRS lists more than $200,000 on the last day of the year for single filers, and more than $400,000 on the last day for joint filers, with higher figures for the highest value at any time. Taxpayers living in the US have lower thresholds. Check the current table.
§ 4The home itself
The IRS comparison table marks foreign real estate held directly as not reportable on either form. That means a Spanish home that you own in your own name is not listed on the FBAR or Form 8938. Income from it is still reported on the return, as how US tax for Americans abroad works explains.
§ 5Holding through an entity
If you hold the home through a foreign entity, the IRS says the entity itself is a specified foreign financial asset on Form 8938, and its maximum value includes the real estate. The FBAR still does not treat the real estate as an account. Entities bring other rules, so ask your adviser before you buy through a company.
§ 6Practical steps
Keep a list of your Spanish accounts and the highest balance in each year, in euro and in dollars. Note the account numbers and the bank addresses. Set a reminder for the FBAR date. If you missed a filing in the past, ask a US adviser about the options before you act.
§ 7Joint accounts and signing authority
A joint account counts for each owner who has an interest in it, and signature authority over an account you do not own can also trigger the FBAR. Check each Spanish account you can sign on, including one you hold with a family member or manage for someone.
§ 8Spanish reporting
Spain has its own information return on assets abroad for Spanish tax residents, explained in the residency section. It does not apply to a non-resident owner of a Spanish home.
§ 9More on this topic
How taxes for American buyers work explains the Spanish side of tax for American owners and how the US-Spain tax treaty works explains the treaty and what to ask.
The rules on visas for Americans explains stays and residence for American owners.
FAQRelated questions
Is my Spanish home reported on the FBAR?
Not if you own it directly: the IRS comparison table lists such property as outside both forms. Your Spanish bank accounts are another matter and can be reportable once their combined balance passes the limit.
What if I hold the home through a company?
A company changes the answer. The IRS treats the foreign entity as an asset for Form 8938, valued with the property inside it. Take advice from a US adviser before choosing that structure.
When is the FBAR due?
The deadline is April 15, per the IRS. The form goes to FinCEN through its own online system, and is not attached to your income tax return.
Sources
- Internal Revenue Service: Comparison of Form 8938 and FBAR requirements (official source, opens in a new window), Thresholds and what is reportableLast checked 17 October 2026
- Internal Revenue Service: Report of Foreign Bank and Financial Accounts (FBAR) (official source, opens in a new window), Who files, threshold, deadlineLast checked 17 October 2026
Legal note. How the process works in general. It is not legal advice, and it never replaces an independent Spanish lawyer acting for you.