I have an account that I declare each year on my 1040, but I have not been filing an fbar because I was under the impression that the account was under $10,000. It was an account I opened 7 years ago while traveling in New Zealand and I get no notifications from them so it was left and sort of forgotten. I recently was able to access my account online and saw that it was over $10,000. Because I wasn't seeing or thinking about the interest being earned I also wasn't declaring it on my tax returns. The account has been open about 7 years and has been earning $300-500 interest a year. I've been reading some of the options to try and get my account back up to code, but it is a little intimidating and I'm not sure which option to choose.
Any suggestions based on the information I gave?
Thanks
Any suggestions based on the information I gave?
Thanks