Additional note to my previous post.
Also wanted to give another hypothetical scenario with respect to @DaveF1006 reply.
Turbo Tax questions if all of your cumulative deposits is greater than $10000, the threshold value to do FBAR/8938. If I have $8000 in savings and open 2 CD's of $2000, based on your method of declaration I will be going over the $10000 threshold triggering other requirements. So I am really confused what is the right way to do this and be compliant.
Regards
