FBAR filing requirement if the account became less than $10,000 in total

[Woodman]

I had a foreign bank account with more than $10,000, so I had filed FBAR in past years.  In 2020, I transferred most of money to US, so during 2021 the foreign bank account had less than $10,000 all time.  In that case, I simply do not need to file FBAR for 2021?  Any documentation/reporting system to inform of it?

[LeonardS · Accepted solution]

Yes, you do not need to file FBAR if all your foreign accounts added together were never over $10,000 on any day during the year.  There is no documentation/reporting needed to report that you are not filing FBAR for 2021.