@rajeshh , since you have ref'd the IRS comparison of requirements for FBAR and form 8938, you are CORRECT in the interpretation that
(a) FBAR specifically includes those accounts where one has only signatory powers but does not operate the account. And the threshold is much lower ( US$10,000 )
(b) 8938 is for ownership of specified assets ( essentially liquid or semiliquid assets , excluding immovable assets like real-estate ) and the threshold is much higher ( dependent on your filing status and tax home ).
Note the distinction here --- if there is no income you report on FBAR ( whether signature authority or ownership ) once you meet the threshold. If there is income to be reported on your return ( then obviously you are not only signature authority but a beneficiary/owner ) the you file 8938 once you cross the threshold..
Does this make sense ?
