Americans with Foreign Bank Accounts Can Face Severe Penalties for Failure to Complete this Annual Report

Just curious if everyone has been completing this form every year? I did not know about it and have not done it.....Makes me stress a little bit

https://qroo.us/2017/04/01/americans-with-foreign-bank-accounts-can-face-severe-penalties-for-failure-to-complete-this-annual-report/

Just checking who is going to get locked up with me?

It only applies to those that ever have $10,000 U.S. or more in that foreign account.
I'm Canadian and don't even have a Mexican account any more. Not worth the hassle with ATM's everywhere now.

From what I have been reading is is any American who has an account regardless of balances

Read the article you posted again.

"What many Americans living abroad don’t realize is that they are required to complete an annual report to the U.S. Government if the value of their foreign accounts exceeds $10,000 USD at any time during the calendar year (the Bank Secrecy Act of 1970). This report is entirely separate from your income tax return."

"Taken directly from the filing instructions (FinCEN Form 114):

A “United States person” that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year."

OK, need new glasses, Thanks

I guess my next trip back to the US is to go to jail. Dang.