Transcript of the above video:

As the title of this video suggests, we are discussing bank accounts here in Thailand, most notably for Americans we're talking about here. For those who are unaware, those Americans out there, there is the FBAR, Foreign Bank Account Reporting, this is required of Americans if they maintain a bank account or bank accounts in an aggregate of $10,000 or more overseas. 

So Americans with overseas bank accounts, in the aggregate of $10,000 or more, you have got to go ahead and deal with FBARs. The reason for the video is I often hear people say, "well I have got $15,000 in this bank account and I have nothing in this other bank account." Strictly speaking, under the rules, you have got to report all the bank accounts because it states “in the aggregate $10,000”. 

So the thing to take away from this video and understand is yes FBARS are required for certain Americans who maintain bank accounts outside of the United States. You have to deal with the Treasury Department to go ahead and report that. But note just because one account does not have the $10,000, it doesn't hit that threshold, it doesn't matter. If all of the accounts in the aggregate would or if even one of the accounts hits $10,000 or more it is then required to report all of the bank accounts associated with an American either doing business or just living, here in the Kingdom of Thailand.