Thanks a ton for the response. So if I'm an individual who will be on a J1 visa working as a resident physician (non-resident alien under trainee under "SPT and exemption") and do not fulfill "a nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return", I will not have to fill out form 8938 and FCARB for my foreign investments? Thus, my foreign assets will not be US taxed.
