This reply doesn't seem to answer the original question. Let's say you have the equivalent of $11000 USD in Canada. Turbo tax first starts with saying an FBAR will need to be filed. Then, after answer all the questions:
Tell us about any foreign bank accounts. I HAD A BANK, BROKER, OR OHER FINANCIAL ACCOUNT IN A FOREIGN COUNTRY.
Was the total value of all your foreign accounts more than $10k at any time during 2022? YES
List of any foreign country where you had a financial account: CANADA
Tell Us About Any Foreign Trusts. NONE OF THE ABOVE
Do you have any foreign financial assets? YES
Did you live in a foreign country? NO
Total value more than $100k on the last day of 2022 or more than $150k any time during the year? NO
TurboTax says: Based on what you told us, it turns out you don't need to report your foreign financial assets.
This seems to indicate an FBAR doesn't need to be filed?
