Form 8938 and FBAR FinCen 114: Financial account held at a foreign branch of a U.S. financial institution
TP opened a brokerage account at TD Ameritrade Singapore Pte. Ltd in 2018 and received 2018 forms 1099=Div, 1099-B and 1099-INT.
Based on the IRS Comparison of Form 8938 and FBAR Requirements (https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements), it seems that TD Singapore brokerage account does not need to be reported in form 8938 (Financial account held at a foreign branch of a U.S. financial institution) but needs to be reported for FBAR/FinCen114.
Is my understanding correct? Thanks.