Foreign bank account

[Ozk]

Do we need to report foreign bank accounts as a resident alien for tax purposes? If the money we have in ithe account is less than $100? 

[DianeW777]

No, you are not required to complete a foreign bank account report.

Report of Foreign Bank and Financial Accounts (FBAR) - Who Must File

A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report:

1. a financial interest in or signature or other authority over at least one financial account located outside the United States if
2. the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.