Do i need to submit FBAR if I am already filing Form 8938 with my return? They appear to be redundant.

[Fern · Accepted solution]

The information is reported to two separate agencies. The Form 8938 is filed with the IRS. The FBAR requirements are reported to the office of Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury. The information may be redundant, but both forms need to be filed.

https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements