Quote:
Originally Posted by F87LUV
Also, if/when you've filed US tax returns and haven't reported your foreign account balances over $10,000, you're looking at penalties that could cost you 50% of the balances in your foreign accounts for every year you haven't reported them.
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This! I know this all too well now I'm personally going through this.
You will have to be very careful if you haven't been reporting tax on those foreign accounts and filing FBAR on them...