One of the biggest misconceptions regarding FBAR (Foreign [non-US] bank account) reports is that only accounts with $10k or equivalent need to be reported.
However, once the $10k threshold has been met, whether through the amount was in one foreign account of spread between a few accounts, an FBAR report needs to be prepared.
Also, once the amount has been met, ALL foreign accounts need to be reported, even if they have $0.00 in funds in them.
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