I'm an American living overseas with a foreign bank account. My bank account was nearing USD50000 so I withdrew 30000 to open another bank account. Therefore I have one bank account with 30000 and another with 20000.
However the FATCA rules state that I should report the maximum in each bank account. So I would have to report one as having 50000 and the other with 30000 for the year 2017 when in fact my aggregate is still only 50000. It may look to the IRS like I picked up an additional 30000 from somewhere. What will happen in this case? I'm sure this must happen often. Any words of advice to keep my mind at ease? Thank you. Peter Novak
