If you are a US citizen, the United States requires you to file a tax return every year on your worldwide income, no matter where you are a resident. This also applies if the income was earned outside of the US, and regardless in which currency the income was earned.
For US citizens there are strict rules regarding reporting of foreign assets such as bank accounts and other financial investments or ownership in a foreign businesses. We can help you comply with the Foreign Account Tax Compliance Act (FATCA) and Report of Foreign Bank and Financial Accounts (FBAR).
The reporting thresholds are different for each of these forms. If the total value of your foreign financial accounts exceeds $10,000, you will be required to file the FBAR. You will be required to file Form 8938, Statement of Specified Foreign Financial Assets if the total value of your foreign assets is more than $50,000 if you live in the United States or more than $200,000 if you live outside of the United States.