I received a $200,000 inheritance from Canada last year so I will report it on form 3520. I also have to file form 8938 every year for my bank accounts I have in Australia (where I live, I am US citizen). The inheritance was deposited into my Australian checking account. Instructions for form 8938 say that you don't have to report any asset that is reported on form 3520. So does that mean I report the maximum balance of my checking account as if the inheritance was never deposited? Thanks.
