You still may not be safe after six years. Closing the foreign account and not filing could make things worse! Read more below:
http://www.forbes.com/sites/robertwood/2013/12/17/whats-the-fbar-statute-of-limitations/
US IRS rules, regulations and laws, for US Citizens, Americans, green card holders, and nonresidents living abroad or moving to the US or out of the US.... valuable information on IRS rules concerning U.S. expatriates and their tax returns, and tax planning.... by an experienced International Tax Attorney
You still may not be safe after six years. Closing the foreign account and not filing could make things worse! Read more below:
http://www.forbes.com/sites/robertwood/2013/12/17/whats-the-fbar-statute-of-limitations/
See list of countries and details of agreements below
http://mobile.businessweek.com/news/2013-12-16/12-agreements-signed-to-help-u-dot-s-dot-fight-offshore-evasion-taxes
Read below. As an expat you must include your assets everywhere in the world. Gifts include those made abroad. Green card holders living abroad are not covered by these rules and will owe US estate taxes on US based assets exceeding $60,000 in total value.
http://www.timesdispatch.com/business/investment/time-to-check-the-list-for-financial-and-estate-planning/article_d9aa1b36-595b-5072-8360-5fe54d0dacab.html?mode=jqm
Read more in article from Accounting Today. http://www.accountingtoday.com/news/IRS-Gets-Better-Assessing-Penalties-Late-Reporting-Foreign-Corporations-68888-1.html
From USA TODAY Hunt for offshore tax evaders widens Feds expand hunt for offshore tax evaders http://usat.ly/1cleDlK