Generally, any U.S. citizen, resident, or person doing business in the United States who has an ownership interest in, or signatory authority or other authority over, a financial account (or several accounts) in a foreign country with an aggregate value in excess of $10,000 at any time during the calendar year must file a Form FinCEN Report 114, “Report of Foreign
Bank and Financial Accounts” (commonly referred to as an FBAR), reporting certain information with respect to that account by April 15 of the subsequent year or the extension due date of October 15. Failure to file an FBAR is subject to both civil and criminal penalties.
One of the most common questions we get is how do I put my Thai wife on my tax return. The first thing you have to do is to apply for an ITIN number for her. However you may not have to.