IRS Form 3520 is for a foreign trust or for the receipt of a gift from a foreign estate or trust. It is not for reporting that you opened a foreign bank account.
I agree with Mr. Givner. I also notice you said "requires interest above $10,000" be reported on the FBAR. I just want to make clear this $10,000 threshold refers to a cumulative amount held in all your foreign accounts. I am not sure whether you meant interest as ownership rights or interest as in the income accrued on the principal deposited.
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