In parts of the EU, maybe. That's definitely not the case in the US. Do you generally have to report accounts for which there have been no taxable events?
You don't have capital tax? Here in The Netherlands we pay a tax over assets exceeding some value. If you have a million, whether it's sitting a bank, or it's stuffed in your mattress, you have to report it and pay (a small amount of) tax on it.
Afaik we also don't have taxable events, we just have income tax.
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