[joshuaf]

I'm trying to file under the Streamlined Foreign Offshore program. I qualify under the non-residency test, but I'm not sure about the foreign assets portion.

They ask that you file 3 years of returns and 6 years of FBARs. I have a foreign bank account, but I don't believe it's every gone over $10,000 USD as I mostly use my U.S. bank. So technically I don't need to file, but do I have to have prove a foreign asset to qualify?

The IRS site states that you must "have failed to report the income from a foreign financial asset." Is my foreign earned income enough? Do I also need to file form 8938? FBARs?

Thanks for any guidance anyone can offer.

 

[BBCWatcher]

They ask that you file 3 years of returns and 6 years of FBARs.

No. They require you to file 6 years of overdue FBARs if you were required to file them. If you were not, you do not. If you were required to file only one or some of those 6 years of overdue FBARs, you file just those you were required to file.

 

[joshuaf]

No. They require you to file 6 years of overdue FBARs if you were required to file them. If you were not, you do not. If you were required to file only one or some of those 6 years of overdue FBARs, you file just those you were required to file.

Thanks for the reply! So this means I still qualify, but don't need to file anything other than the standard forms, correct?