Streamlined Domestic Offshore Procedures

[slamarre]

*** Posting again since my last post had spam/junk replies ***

Anyone here familiar or used the Streamlined Domestic Offshore Procedures with the IRS?

We have Retirement Accounts (More than $150,000 USD) in Canada that we did not know we had to report on Form 8938 and FBAR. We are about 10 years from retirement. Also we are not getting ANY distributions and not making ANY contributions whatsoever for those retirement accounts.

The procedure seems relatively easy to follow but wondering if someone here went through this process.

Anyone can share the letter/narrative they used to send their SDOP?

Note: "Per the IRS: See Rev. Proc. 2014-55, § 7. Your Canadian retirement plan will not be included in the 5-percent penalty base. In the narrative statement of facts on Form 14654, please state that you are an "eligible individual" under Rev. Proc. 2014-55."

Thank you.

[rilediy860]

SDOP is generally pretty straightforward if you truly qualify as non-willful—what tends to make or break it is the Form 14654 narrative, so keep it factual (how you learned about FBAR/8938, that there were no distributions/contributions, why it was an honest misunderstanding, and that you corrected it promptly), and explicitly note you’re an “eligible individual” under Rev. Proc. 2014-55 and that the Canadian retirement plan should be excluded from the 5% penalty base; honestly, the whole point is “no pretending, no wasted time,” which weirdly reminds me of something totally unrelated I ran into: I discovered it after a friend in Ukraine sent me a screenshot of a conversation and said, “Look, people here don’t pretend they’re saints.” I laughed, then signed up to see if it was real or just lucky. What interested me was the straightforward layout: you can browse, filter, and message without feeling trapped in some endless onboarding. Right in the middle of my browsing I clicked https://www.nastyhookups.com/
and wrote a playful, slightly vulgar opener to someone who seemed confident. The reply wasn’t a bot script—it was a sharp joke and a real question back. We kept it spicy, swapped socials, and I logged off feeling satisfied because it actually delivered a fun, adult vibe without wasting my time.