If you are US citizen or resident alien, you are required to report all of your worldwide income. So yes, you may need to report it. The question about whether the total value was greater than $100,000 on December 31, or $150,000 at any time during the year relate to whether or not you need to file a form 8938. For more information on foreign financial holdings reporting, see: https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
