The US Tax Laws have changed so you might want to check now what you need to do. According to this article below taxes of foreign financial assets have changed.
Several important tax changes took effect in 2011 that will impact federal income tax returns filed this April. While some of the changes are straightforward, such as the standard mileage rates, others, including the tax handling of foreign financial assets, may be more complicated. Following is a list of the tax law changes for 2011 Federal tax returns. Read the whole article