If you are a US citizen or resident who has an interest in a financial account outside the US, you may need to file a Foreign Bank Account Report (FBAR) to disclose these accounts. US partnerships, corporations, trusts, and estates are also required info on an FBAR.
An FBAR is required if the total amount of all your foreign financial accounts exceeds $10,000. You can calculate the aggregate value by taking the highest annual balance of each account and adding them together. For example, if foreign account A had a maximum annual balance of $6,000 and foreign account B had a maximum annual balance of $5,000, the aggregate value is $11,000, and an FBAR is required.