Thank you very much for the detailed answer.
I have one more, related but different question. The financial account where the foreign bonds are held has a value above the appropriate reporting threshold, precisely because of the value of the unsold bonds contained in it. However, that account in itself does not produce any interest at all. In other words, the account itself cannot and will never be a source of income.
So, do I have to report that financial account on the Form 8938?
