U.S. persons needn’t report foreign accounts holding only virtual currency. But this will be changing. The Financial Crimes Enforcement Network says it plans to amend its rules to include virtual currency as reportable accounts. But any pending regulations won’t apply to the reporting of 2020 foreign accounts. Remember the reporting rules if you have an overseas account. U.S. persons with foreign accounts whose total value exceeded $10,000 at any time in 2020 are required to electronically submit FinCEN Form 114 by April 15 to report them.