There are several levels of reporting. If you had a foreign account, no matter the balance on the account during the year, you must check the box on Schedule B that says that you had a foreign account. This is one level (Schedule B). Then, if you had a balance of $10,000 or more on your account(s), you also have to file FBAR (separate from your return and due by 06/30/16). You can e-file it here <a rel="nofollow" target="_blank" href="
http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html">http://bsaefiling.fincen.treas.gov/NoRegFBAR...>
So yes, you have to say "yes" that you owned an account. The program will ask you what the highest balance was. And if it was over $10K, it will tell you to file FBAR (link above).
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