Does my son have to filing Comparsion of 8938 and FBAR?

[hayakawa41]

My son study aboard in Japan. He has a Japanese bank account.  He doesn.t have income in Japan.

We support living expense and tuition. 

Does my son have to filing comparison of 8938 and FBAR?

[LoganathanB]

He has to file 8938 along with the tax return if the total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year for unmarried person.

He has to file FBAR if the aggregate value of financial accounts exceeds $10,000 at any time during the calendar year. This is a cumulative balance, meaning if you have 2 accounts with a combined account balance greater than $10,000 at any one time, both accounts would have to be reported.

8938 and FBAR

[hayakawa41]

Thank you