I would suggest you file a Form 3520. There is no harm in filing one, but the consequence could be high if you are required to file one but didn't.
Assuming the money in the bank account in fact belongs to your parents and not a gift for you, my other suggestion is to remove your name from the account. If the account is owned only by your non-resident alien parents, any bank interest income is not taxable by the IRS. You parents could give you a Power of Attorney (use the bank's own POA) to make transactions on their behalf. The bank may require you to close the existing account and open a new one. A potential problem is that the bank may not be willing to open an account for a non-resident alien.
https://www.irs.gov/individuals/international-taxpayers/nontaxable-types-of-interest-income-for-nonr...
Nontaxable Types of Interest Income for Nonresident Aliens
https://www.irs.gov/instructions/i3520
4 You are a U.S. person who, during the current tax year, received either:
More than $100,000 from a nonresident alien individual or a foreign estate (including foreign persons related to that nonresident alien individual or foreign estate) that you treated as gifts or bequests; ... Complete the identifying information on page 1 of the form and Part IV. See the instructions for Part IV.
