Yes - If you meet the reporting requirements for Form 8938, then you will need to report a foreign investment amount (as a foreign financial account) on Form 8938. This would also apply to reporting a foreign gold margin trading account (as a foreign financial account).
Regarding your FBAR requirement -
If you have foreign
financial accounts, you may be required to file a Report of Foreign Bank and
Financial Accounts (FBAR) if are a US citizen or resident and::
- you had a financial
interest in or signature authority over at least one financial account
located outside of the United States; and
- the aggregate value of all
foreign financial accounts exceeded $10,000 at any time during the
calendar year reported.
Foreign financial
accounts consist of all foreign financial accounts that you own separately or
jointly or for which you have signatory authority over (such as a foreign
business account that is owned by the business but for which you can sign
checks or redirect funds).
To be directed to
the US Treasury Government Website to prepare a Report of Foreign Bank and
Financial Accounts, click FBAR
(TurboTax does not support this form)
Here is a link to
the IRS related to both the FBAR filing and the Form 8938 filing: IRS
- Comparison of Form 8938 and FBAR Requirements
