According to the Schedule B instruction, see below, it states that you may require to file. It does not say you have to.
Regardless of whether you are required to file FinCEN Form 114 (FBAR), you may be required to file Form 8938, Statement of Specified Foreign Financial Assets, with your income tax return. Failure to file Form 8938 may result in penalties and extension of the statute of limitations. See IRS.gov/Form8938 for more information.
To read instruction, click here: https://www.irs.gov/instructions/i1040sb ( Under Part III. Foreign Accounts and Trusts)
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