This sounds good. Is anyone doing this?
"IRS Form 8938
You must file IRS Form 8938, Statement of Specified Foreign Financial Assets, with your income tax return if:
you had $50,000 in a foreign account on the last day of the year, or
you had more than $75,000 in such an account at any point during the year.
For married couples filing jointly (as almost all do), these thresholds are increased to $100,000 and $150,000, respectively.
If you live abroad, the thresholds are greater: $200,000 at the end of the year or $300,000 at any time; $400,000 and $600,000 if you're married and file jointly.
I got 7 accounts in 5 countries. Every one must be reported. All that would be history. $ 200 000 a year would be more than enough. I'd continue to keep most in the US.
Then, only simple FBAR to do.
PS. Since my SSA pension is small no Fed nor state reporting. I get very good interest income but, what ever the reason, no tax so far! No, I don't go and ask....