A substrate including a handle substrate, a lower insulator layer, a buried semiconductor layer, an upper insulator layer, and a top semiconductor layer is provided. Semiconductor fins can be formed by patterning a portion of the buried semiconductor layer after removal of the upper insulator layer and the top semiconductor layer in a fin region, while a planar device region is protected by an etch mask. A disposable fill material portion is formed in the fin region, and a shallow trench isolation structure can be formed in the planar device region. The disposable fill material portion is removed, and gate stacks for a planar field effect transistor and a fin field effect transistor can be simultaneously formed. Alternately, disposable gate structures and a planarization dielectric layer can be formed, and replacement gate stacks can be subsequently formed.