The law says:
A United States person that has a financial interest in or signature authority over foreign financial accounts
must file an FBAR if the aggregate value of the foreign financial
accounts exceeds $10,000 at any time during the calendar year.
In your case, if the aggregate value of the foreign accounts exceeds $10,000 at any time in 2016, you must file an FBAR,
You can file the FBAR online by visiting this link:
https://www.efilefbar.com/?gclid=CNyUnaDejtICFUNafgod2lEA2A
On your US tax return, you need to indicate that you have foreign bank accounts and report all your foreign income.
Please see this IRS document for more information:
https://www.irs.gov/businesses/income-from-abroad-is-taxable
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