When your finances cross borders, begin with an organized list of countries, accounts, ownership interests and income sources. That list helps define the review without assuming every item has the same reporting treatment.
Separate income, accounts and ownership
A bank account, an income payment and an interest in a company are different facts. Keep records for each category and note changes during the relevant year.
Identify the relevant people and dates
Prepare information about who owns or controls an account or entity and when the relationship began or changed. Keep identifying documents for the agreed document-sharing process.
Ask which reporting rules need review
FBAR and Form 8938 have distinct requirements. Filing one does not replace the other. Review the IRS comparison as general orientation and obtain an assessment for your circumstances.
Define the assignment before filing
Record which returns or reports are included, which information is still missing and who authorizes submission.