Justin received a statement reporting $1,555 of interest income from a bank account he has in Canada.
Select one:
a. He must file an FBAR since his interest income exceeds $1,500.
b. He is not required to complete Schedule B, Part III since his foreign income is less than $10,000.
c. He is not required to file an FBAR since his interest income does not exceed $10,000.
d. He is required to complete Schedule B, Part III since he has a financial interest over a foreign financial account.