GeoffreyG
New Member

Get your taxes done using TurboTax

Hello splpez:

There are no exceptions (to maximum daily closing value reporting) for accounts that are closed during the year -- at least that I am aware of.  There is, however, a place on the compliance form(s)  to indicate that the foreign account was closed by the owner during the calendar year.  If that applies to you (and it seems like it does), then you can indicate this when you complete the compliance form.

Thank you for asking this follow-up question.