United States taxpayers seeking to use the streamlined foreign offshore procedures must satisfy the following requirements:

(1) The applicable non-residency requirement (for joint return filers, both spouses must satisfy the non-residency requirement); and

(2) Have failed to file an FBAR with respect to a foreign financial account; and

(3) The failure to file an FBAR must have resulted from non-willful conduct. Non-willful conduct is conduct that is due to negligence, inadvertence, or mistake or conduct that is the result of a good faith misunderstanding of the requirements of the law. Read More