Do you know if there are actual penalties for not filing? Most of what I’ve seen says that you have to pay a fine based on what you owe, but if you owe $0 they don’t charge you for it. Some years I don’t get around to filing because it’s a little complicated and I’m pretty lazy about it. I always file the foreign bank declaration though because there’s heavy financial penalties for not doing that.
Do you know if there are actual penalties for not filing? Most of what I’ve seen says that you have to pay a fine based on what you owe, but if you owe $0 they don’t charge you for it. Some years I don’t get around to filing because it’s a little complicated and I’m pretty lazy about it. I always file the foreign bank declaration though because there’s heavy financial penalties for not doing that.