Hello Matt, if your bank account exceeds the amount of $10,000 their are no penalties, however, as you are aware this needs to be reported via FBAR and you need to report the interest income in your tax return if you are filing a resident return no matter if your bank balance amount is below or above $10,000 (as residents/citizens report worldwide income).
Please let me know if you need any clarification on the above or have any additional questions.
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