If you're holding a bank account or an investment account overseas, you're running out of time to come clean to the IRS.
The Internal Revenue Service will shut down its voluntary disclosure program on Sept. 28, meaning those who have failed to participate could be subject to large fines, penalties and criminal prosecution.
Since the program's launch in 2009, more than 56,000 taxpayers have stepped up to report their foreign financial assets. In all, they paid $11.1 billion in back taxes, interest and penalties since then, according to the IRS.
"The offshore voluntary disclosure program is coming to an end," said Katelynn Minott, a CPA with Bright!Tax. "There are a number of different ways to get compliant."
Here's what you need to know.