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It's not foreign assets, it's foreign financial accounts.
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Thats what I meant, but thanks for the clarification.
Here's the exact wording from form TD F 90-22.1 (
Link to form )...
Who Must File this Report Each Unites States person, who has a financial interest in or signature authority, or other authority over any financial accounts, including bank, securities, or other types of financial accounts in a foreign country, if the aggregate value of these financial accounts exceeds $10,000 at any time during the calendar year, must report that relationship each calendar year by filing TD F 90-22.1 with the Department of the Treasury on or before June 30, of the succeeding year.