; and (2) by inserting after subsection (a) the following: (b) Specified foreign financial assets (1) In general If a person makes a transaction that would require reporting under subsection (a), and such transaction involves a specified foreign financial asset, the reporting requirements described in subsection (a) shall— (A) only apply if the transaction involves an amount that exceeds the aggregate value threshold set forth in section 6038D of the Internal Revenue Code of 1986