Do You Need an FBAR?
Your Mom, back in Canada, made you a cosigner on her bank accounts, “just in case...”
Or, you like to do some internet gambling, which means you transfer money to an account with an offshore casino to fund your bets...
Oh, oh! You may have to file an FBAR by June 30 or face ridiculous penalties.
FBAR is the report of Foreign Bank and Financial Accounts.