Originally Posted by PetrosResearch
But the thing is that the only reason it is necessary to move your accounts is to avoid FBAR. If you are planning to fill out the FBAR, then there is no point in moving anything. .
That is not true.
There can be hundreds of legitimate reasons to move your account.
(1) you have heard rumors your bank is in financial difficulties
(2) you have received poor customer service and want to change banks
(3) your bank is too expensive you are moving to a cheaper solution
(4) you asked for a loan but your bank did not give it to you while another bank did