Fbar for last years - H1b

[wiweq]

Hi folks,

 

I wanted to know if you have any experience in filing Fbar for previous years.

As you all know, being US residents for tax purposes, we have to file Fbar every year if the bank balance in foreign banks in more than $10,000 at any given time of the year. There are severe punishments if we fail. Visa status doesn't matter, its applicable for all residents for tax purposes. 

More info about Fbar is here.

 

I was not aware about this Fbar, and now understand that I should file it for year 2012 and 2013.

Please share if you have any experience of filing Fbar for previous years.

 

Cheers!!