Solved
Do I need to File an FBAR?
My spouse has a Canadian Retirement Account with holdings in excess of $10,000.
We have taken no distributions from this account, ever.
I file form 8938. Do I also need to file the FBAR?
Yes, you will need to file an FBAR if you file form 8938, since the max value of the account is likely over $10,000. Canadian retirement accounts — including RRSPs and TFSAs — are explicitly treated as foreign financial accounts for FBAR purposes.
Here is a link to file an FBAR.
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