If you have an offshore financial account and have the dubious pleasure of being a US taxpayer, you should be familiar with the odious Report of Foreign Bank and Financial Accounts (FBAR) form.
The FBAR is perhaps the most common reporting requirement burden (but certainly not the only one) US taxpayers with international assets have to deal with. These reporting requirements, backed up by truly draconian penalties, are some of the main tools the US government uses in its unrelenting crusade to track and control every penny you earn, spend, and save… a mission that dovetails nicely with the infrastructure of the NSA's surveillance state—but that's a topic for another day.
If you have an aggregate of $10,000 or more in foreign financial accounts at anytime during the year, you must file an FBAR (FinCEN Form 114). A foreign financial account is an all-encompassing term. It includes non-US bank and brokerage accounts, as well as foreign mutual funds, accounts with gold storage companies like GoldMoney, and much more.
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