Do I Need to Report my Foreign Assets?

Yes, there are some tax-reporting requirements for those who hold international and off-shore assets.  When filing your federal return, locate the corresponding box in Section B to indicate that you have foreign assets to report.  Depending on a number of personal and income criteria, you may also be required to fill out a Statement of Specified Foreign Financial Assets (Form 8938).  This would be filed simultaneously with your 1040 form.