yes and NO -- there are two threshholds that trigger the FATCA reporting -- for example for a single filer it $50,000 aggregate value at the end of the year or $75,000 at any time in the year. It does mean that in your example for a single taxpayer living in the USA, you have to report any ways because you will be above the threshhold .
But another exception come into place though because you say you received a gift/ inheritence from a foreign person abobe $100,000, you need to report that transaction on form 3520. The amount reported on form 3520 exempts you from having to report FATCA form 8938.
Now next year if you do not re-patriate the amounts to the USA, you will have to report both FBAR and FATCA
