We have GL BANK account in USD for a Canadian sub we have $0.00 in foreign currency( USD) However, there is balance of $-41,863.36 in CAD. All foreign currency revaluation transactions have been reversed as well How can we close/inactivate this account? What needs to be done to have 0 balance in both local and foreign currencies?

that means that sometime ago someone just cleared a balance with the wrong currency. that is they should have cleared it with CAD, but they did it in USD, you need go back in time to find that transaction, reverse it and book it correctly. then the balance will disappear. Essentially what you see is a never ending revaluation