Do I really not need to include anything about foreign bank accounts into my tax report?

[InEnTai]

I've been the US resident for about 4 years now, however I still had bank accounts in my home country. Last year I've closed them. There was one mutual fund managed for me and 2 saving accounts with very little interest. At any point of time last year or before the total amount on all accounts never reached over $25k.

I obviously need to submit an FBAR this year, but when I go through TurboTax wizards it says I don't have to do anything else and disclose the interest I've gotten anywhere. Do I really not need to do anything, since total value on accounts was always below 100k? Or do I still need to file it in bank interest section (although I don't have a proper US forms of course)?

Don't want to get in trouble with IRS and follow laws properly, so I'm confused that IRS doesn't seem to care about this money?

[MinhT1 · Accepted solution]

If you received interest on your foreign accounts, you have to report this interest on your U.S. tax return.

You'll report just as if you had received a form 1099-INT from a U.S. bank.

• In TurboTax, open your tax return
• Click on Federal in the left-hand column, then on Wages & Income on top of the screen
• Scroll down and locate the section Interest and Dividends and click on Show more
• Click Start next to Interest on 1099-INT