Yes, eventually the IRS will find your foreign bank account. When they do, hopefully, your foreign bank accounts with balances over $10,000 have been reported annually to the IRS on an FBAR “foreign bank account report” (Form 114). And hopefully, interest and dividends from your foreign bank accounts will already be reported on your annual US tax return, including foreign disclosure forms and statements (Form 1040). When the IRS finds your foreign bank account and it has not been reported properly you are in a lot of trouble. Just Google FBAR penalties- nothing good comes up.
But I Don’t Owe Any Extra Taxes? I Live Overseas And Pay Tax Where I Live? My Exemption For Working overseas Eliminates Any US Tax Owed?
Read the articles you googled on FBAR penalties. Form 114 is a disclosure statement only, but some of the smaller penalties are $10,000 and 5% of your highest account balance. The penalties escalate from there to higher civil penalties and possible criminal penalties. You need to file an FBAR disclosure annually on your foreign bank account if the balance exceeded $10,000 on any day during the tax year.
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