I'm an American working overseas for 30 years and have always filed my 1040 and 2555 forms and checked the box asking if I have a foreign bank account, yes. I have about $50,000. in my account but have never filed an FBAR because I didn't know about it. I also have $3000. undeclared income on my 2011 return. However it would still be covered under the foreign earned income exclusion had I filed it. My question is: should I amend the 2011 tax return and file an FBAR at the same time? Also how will I be penalized for filing a late FBAR? I haven't cheated on my taxes but these are technical issues I worry about.