They will find out sooner or later and you can be like me and get a bill for $220,000 for 2001 and spend 1-2 years and LOTS of time getting it sorted out. Just do it right or enjoy the lean on everything you own.
If you loose all of your money than no they dont care. If you make a bunch of money than yes they do care and yes they will catch you. Having an overseas broker is no different than a U.S broker except YOU are responsible for reporting your earnings to Uncle Sam. And THEY WILL FIND OUT if you make a ton of dough and have not paid them. You cant even have a Swiss bank account to hide your money anymore, because get this, The U.S passed a law requiring swiss banks to report account information of U.S citizens to the I.R.S. The good ol U.S.A passing laws in other countries. Makes me sick. However my wife is swiss and she dose not have to report to the I.R.S, which is why she will not get a green card, we can still travel back to the states but she does not have to report earnings whereas I do. Needless to say my wife makes alot more money than me.
Now if there was a smiley with the middle finger I would insert it here.
(pointed to the I.R.S of course)
