Offshore Voluntary Disclosure for 2011

[peenguy]

Hi

I really hope someone can help me here. I'm a US citizen living in Canada for the past 10 years and I just recently found out that I have to file US tax returns and FBARs. For the last 6 years I've been in school and have earned less than $30,000 in income per year. I had however over $120,000 in Canadian bank accounts for this 6 year period.

I'm reading the FAQ for the 2011 Offshore Voluntary Disclosure and I'm confused. Can I "quiet" file the last 6 years of 1040 income tax returns and FBAR forms if I won't owe any US tax? Or do I have to enter the voluntary disclosure program?

Someone told me that if I don't owe any taxes when I file my 1040 returns I can send them in as "quiet disclosures".

Any help would be appreciated.

Thanks in advance.

[nelsona]

That is the normal process. If you file before they find out you should have, you will be fine.