Thank you for the information. The accounts were not one and the same before and after the claim, and in some cases, not even at the same banks. I had to open a new account with a new account number in my name and the proceeds were direct deposited there. I am not considered the owner of these assets until they are transferred to me. In fact, in many cases there was no legal way for the bank to transfer the old account to my name, as those kinds of deposits are restricted to residents and/or seniors of that country only. Though I do have the option to wait until those deposits mature, and then make the death claim.
So, I guess I need to only declare my new account(s) on the 8938 as the value was over $50k.
As far as I know, a 3520 needs to be submitted on the assets I already inherited for 2022, since the amount was over $100k.
And a FBAR/FINCEN needs to be submitted for the POA even though the assets were not mine (already doing that for past years as well).
There are several tax and attorney web-sites describing the 3520 and FBAR requirements these in detail. IRS considers inheritances a gift. FINCEN considers POAs signature authority even if the POA has not been provided to the bank to make transactions yet.
