If you aren't required to file the Form 8938 then you will be able to e-file without issue.
The e-filing error only occurs when you are filling out form 8938 and you wish to indicate that you have reported an asset on 3520 rather than on 8938. (Form 3520 is sent in separately from your tax return, to the Odgen, UT office.)
If your assets (in aggregate not per account) don't exceed the filing threshold for Form 8938, then you won't have this problem. For Form 8938 whether or not you're required to file depends on where you live and your filing status:
Living within the United States
- Unmarried taxpayers (or married taxpayers filing separately) $50,000 on the last day of the year or $75,000 any day of the year
- Married taxpayers filing jointly $100,000 on the last day of the year or $150,000 any day of the year
Living outside of the United States (either with bona fide residence abroad or present in another country 330 days in a consecutive 12 month period)
- Unmarried taxpayers (or married taxpayers filing separately) $200,000 on the last day of the year or $30,000 on any day of the year
- Married taxpayers filing jointly $400,000 on the last day of the year or $600,000 on any day of the year
There shouldn't be any issues if, instead of indicating the number of assets which are on the 3520, you duplicate the efforts by reporting the same account on both forms. The ticker is meant to say "hey, this asset isn't on this form, it's on that one". Reporting it on both should cause no problem aside from the obvious inconvenience of having to do so.
TurboTax doesn't assist in preparing Form 3520 since it's not filed with your income tax return.
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