# Mistake on Streamlined Foreign Offshore Procedure



## P123 (Dec 2, 2015)

Hi folks,

I submitted my Streamlined package in March, 2015 and was pretty overwhelmed by the scope of forms and all the info gathering...but I did my best at the time to report all the info I had. Fast forward a year later and I realized I missed an 8938 so I amended one return to include the 8938.

Fast forward another few months and I just recently realized I accidentally failed to include a dormant account. The account never had any money it, zero. I opened it 5 years ago and decided I did not like the bank and took my business elsewhere.

I now realize that I should have included this account in my Streamlined package...

If I report the account do I need to file the last 7 years worth of FBARS and several 8938s? 

Can I just file these forms with an explanation? Or do I need to amend the Streamlined package entirely? 

And lastly, I wonder if poking the hornets nest for an empty, dormant account is even a good idea? The account in question is in a European country for which I am a citizen.

Thanks for any tips you can offer.


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## Bevdeforges (Nov 16, 2007)

Honestly, I'd leave it alone. It's highly unlikely they would come after you for a dormant, empty account, whether or not you're filing under Streamlined. If it makes you feet better, just be sure to include it next year when you file your FBAR.
Cheers,
Bev


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## P123 (Dec 2, 2015)

Thanks Bev for your reply.

Just curious, but wouldn't I need to resubmit the 8938's as well?

Although the account was empty I am guessing the "aggregate" value would also require that I include it on the 8938...

But, yes, as I said, having just done the Streamlined process last year I wonder if it is wise to throw a wrench into everything. I have witnessed firsthand how slowly the wheels at the IRS turn and I feel like if I were to submit more amendments it might just prolong this already uncomfortable experience. 

Any one else out there have some advice as to why or why not to amend and/or file delinquent Fbars for dormant account rather than just file it next year for the first time?

Thanks


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