No, not as long as it did not exceed $10,000 at any time during 2016.
The Bank Secrecy Act requires U.S. persons who own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account to file a Form TD F 90-22.1, Report of Foreign Bank and Financial Authority (FBAR), if:
No, not as long as it did not exceed $10,000 at any time during 2016.
The Bank Secrecy Act requires U.S. persons who own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account to file a Form TD F 90-22.1, Report of Foreign Bank and Financial Authority (FBAR), if:
Do this means I need to tell I have a foreign bank account ,although I don't need to file TD F 90-22.1 to report?
This means you only have to report the foreign bank account IF it exceeds $10,000USD at anytime in 2016. If it did not, then you do not have to report anything on the FBAR TD F90-22.1