H1-B visa holders and U.S. permanent residents (non citizens) need to file FBAR and Form 8938 too!

Are you a new U.S. resident or H1-B visa holder?
Surprised, shocked/terrified to hear about FBAR and 8938?
You're not alone. I can understand. Tell me, which other country in the world require expats (on work visa. Not even permanent residents!) to prepare 2 tedious lists of bank account information with bank account number, bank addresses, amount in each bank account, yearly interests (...etc) if they're not citizens?

So, what do you do if you find out too late about this bizarre, one-of-its-kind-in-the-world IRS reporting requirement (which I think is not even right, but since I do quite like living in the U.S., I'll just have to suck it up and learn about it *sigh*)?
I wish I have all the answers right now, but I am still learning...and sharing useful information with others (H1-B, H2, O1, new permanent residents) who are in the same situation, and hope you will all have an easier time getting the information you need about how to do your (late) FBAR and 8938 filings.

The first thing that I did was to file what's called a "delinquent FBAR" for year 2013 - I missed the June 30, 2014 deadline (I was almost 3 months late. I couldn't obtain information about all of my bank accounts overseas, so I will have to travel just to obtain bank accounts details, and to subsequently file an amended FBAR)

This is a link on IRS' website that will take you to the FBAR e-filing
http://apps.irs.gov/app/scripts/exit.jsp?dest=http://bsaefiling.fincen.treas.gov/main.html

Before filing, you might want to read the information here:-
http://www.irs.gov/Individuals/International-Taxpayers/Delinquent-FBAR-Submission-Procedures
Here is a screenshot of the above website:-

 

Of course, my story didn't just end there. After filing my 3-month late FBAR for year 2013 (as a new permanent resident), I found out that both FBAR and 8938 are a requirement for H1-B and other work visa holders too! Which means, I was supposed to have done both for years 2011 and 2012 (when I was on the H1-B visa), which now means I'm almost 3 years too late for my 2011 filing.