Is a foreign bank account necessary to report on form 8938 if the asset (the value of the account) is included in a Form 5471 filed with the return?

[nehajain1819]

In addition to reporting number of Form 5471s if you have foreign account balances of more than $10,000 but less than $100000, do you need to report foreign account balances on form 8938 in addition to number of form 5471s or 8621s?

[bine22]

No, you do not need to report it on both forms, but you need to indicate, how many forms 5471 you filed. 

https://www.irs.gov/businesses/corporations/do-i-need-to-file-form-8938-statement-of-specified-forei...

"If you are required to file a Form 8938 and you have a specified foreign financial asset reported on Form 3520, Form 3520-A, Form 5471, Form 8621, Form 8865, or Form 8891, you do not need to report the asset on Form 8938.  However, you must identify on Part IV of your Form 8938 which and how many of these form(s) report the specified foreign financial assets. "