Help with FBAR and Form 8938. Inheritance from Japan.
Situation: I received a large inheritance from my late uncle. My late uncle is Japanese, so he is a non-US resident. A court appointed lawyer in Japan was assigned to administrate this inheritance between me and my brother, as my uncle had no children or spouse and we are the only two heirs. My brother and I live in the US. Total assets inherited for each person, my brother and I, are well over $100,000 and includes cash, land, buildings on said land, and art pieces.
For the most part, I have the 3820 figured out. However, I am confused on whether or not I need to file an FBAR or 8938.
We both received our respective amount of cash, but I believe that there is still over $50,000 held by the estate administrator (no trust was ever formed) and there was most certainly over $75,000 in the accounts at one point, but held in Yen. These accounts are Japanese and are not in either my brother's or my name. They are accounts once held by my uncle and accounts opened by the administrator. None of these accounts are investments accounts, just checking accounts. Disbursement does require our signature on an affidavit and is requested on our behalf by the administrator; however, I am unsure if that is a requirement from the bank, and/or the administrator is covering all bases, and/or because we have authority over said accounts. Due to time differences, communication between us and the administrator is slow, so I haven't had confirmation of the last statement yet.
Do we still need to file an FBAR?
Do we have to file Form 8938?
Thanks!
This is a repost, since I accidently made the first post in the retirement thread.