US taxpayers: do you plan to report your foreign accounts this year?
- I knew about this requirement and plan to file
- I knew and am ignoring
- I didn’t know but plan to file now
- I didn’t know and don’t care
US citizens are required to report foreign accounts by June 30 of each year. There are hefty penalties for not doing so. It seems to me to be one of those situations with a very small chance of being caught if you ignore it but where the penalties are so high it seems wrong not to do so. Anyway a reminder for anyone who wasn’t aware of the requirement.