How does the IRS know if I have a foreign bank account?

For starters, the IRS is currently involved in active investigations being conducted through the information sharing agreements held with certain countries which allows them to access information on foreign accounts. They may also receive information through a recently updated whistleblower program, not to mention from the hundreds of criminal investigation professionals stationed overseas.  

Additionally, the IRS will receive all of your foreign financial account information directly from participating Foreign Financial Institutions when information sharing begins starting January 2015.

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