Hello - Slightly off topic, but as I am stationed overseas I am obliged to have a foreign Bank account in order to pay bills etc. I understand that I must acknowledge that this account exists on my tax form, and report any sums over $10,000 via FBAR. I have always maintained a balance below that 10k Threshold, but my question is does it matter if I go over that amount? Other than reporting via FBAR, Are there tax penalties/consequence/disadvantages If I do? Thank you in advance!
