This would not be considered a Foreign Bank Account for purposes of this question, and you can answer no here.
The U.S. government requires reporting of foreign financial accounts because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions.
If you have bank accounts located outside of the United States, the Bank Secrecy Act may require that you report those account balances to the Internal Revenue Service (IRS) by filing form TD F 90-22.1, also known as the Report of Foreign Banks and Financial Accounts (FBAR). Failure to properly file an FBAR and declare the account balance could lead to civil penalties costing hundreds of thousands of dollars and even result in criminal charges.
Click here for additional guidance on how to report foreign bank accounts.
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