Fbar is also know as TD F 90-22.1 (Rev. March 2011) Department of the Treasury
There is an IRS form that is required to be completed each year if you have a aggregate total of over $10,000 in foreign bank accounts. Below are the general instructions right from the form. From what we have read the IRS will allow this form to be completed this year and forgive it not being prepared and filed in past years. If you have not completed this form in past years this is your last chance to be given amnesty.
Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (the
“FBAR”), is used to report a financial interest in or signature authority
over a foreign financial account. The FBAR must be received by the
Department of the Treasury on or before June 30th of the year
immediately following the calendar year being reported. The June 30th
filing date may not be extended.
Who Must File an FBAR. A United States person that has a financial
interest in or signature authority over foreign financial accounts must file
an FBAR if the aggregate value of the foreign financial accounts
exceeds $10,000 at any time during the calendar year. See General
Definitions, to determine who is a United States person.
I have attached a link to the form and the instructions for your review. This is a pdf file.