Any United States person has to file if they have more than $10,000 held in a overseas account.<p>A United States person is defined as:<p>&quot;United States person includes U.S. citizens; U.S. residents; entities, including but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.&quot;<p>(There are exemptions for very specific circumstances)<p>A lot of United States persons living overseas are unaware that they need to file, and a lot of permanent residents or H-1Bs in the US are unaware that they also need to file if they still have assets held overseas. They have ramped enforcement up over the last few years so a lot of people are out of compliance and don&#x27;t realize it. Thankfully at least at the<p>See:<p><a href="http:&#x2F;&#x2F;business.financialpost.com&#x2F;personal-finance&#x2F;taxes&#x2F;uncle-sams-corner-max-reed-fbar" rel="nofollow">http:&#x2F;&#x2F;business.financialpost.com&#x2F;personal-finance&#x2F;taxes&#x2F;unc...</a><p>(Disclaimer: Not an accountant. Consult an accountant for tax related advice)