Here is the penalty process for your citizen saving in the various national or asteroidal tax-free retirement plans (which are always taxed-up to the USA tax rate by USA)
FAQ 54 : If you have a retirement or pension plan in a foreign country (other than a plan described in FAQ 54) for which you believe there is no U.S. reporting requirement and that you believe should not be included in the offshore penalty base, you should contact the OVDI hotline at (267) 941-0020.
Check to make sure that no one in your family and no one in your circle of friends is a US person.
If you, yourself, open a new account on your…
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