I have a new client who has lived here in the US for the past 35 yrs. She is from Austria. She has a bank account in Austria that a pension is direct deposited in and it is transfered the same day out of that account. So no more than say equivalant to $1200 USD is in the account at any one given time.

Does she need to file any forms to diaclose that she has that bank account in Austria?
Is she not required to because it never has more than $10,000 USD in the bank account at any one given time?
How is the $1,200 pension received from Austria treated on her 1040 tax return?

Thanks for your help.