IRS website for FACTA information - https://www.irs.gov/businesses/corporations/summary-of-fatca-reporting-for-us-taxpayers
IRS website for a comparison of Form 8938 and FBAR requirements - https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
TurboTax supports entry of a Form 8938 when you indicate you have foreign assets.
See this TurboTax support FAQ for a Form 8938 - https://ttlc.intuit.com/community/accessing/help/how-do-i-file-form-8938-statement-of-specified-fore...
An FBAR report (FinCEN 114) is not entered on a tax return. It is handled through the BSA E-filing System Website.
See this TurboTax support FAQ for FBAR - https://ttlc.intuit.com/community/forms/help/can-turbotax-handle-an-fbar-report-fincen-114/00/25942
I got my green card in 2018 (though I was staying in US since 2013). I came to know about FBAR and FACTA in 2019. I haven't filed anything for 2018. Is there a safe way to declare FBAR and FACTA without attracting penalty for late filing.
If you meet the requirements, you would just need to amend your 2018 tax return to add the Form 8938 and report a delinquent or past-due FinCEN Form 114.
For instructions and information, see the followings:
Amend to add Form 8938-I am using a post from our user DS30 for your reference
Penalties FinCEN114 - Read under Penalties
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