Cross-border issues can be a nightmare. I used Turbotax for years and it was very easy. However, it never warned me that additional forms are required for "US persons" with foreign bank accounts. After 15 years of not filing the necessary forms, I discovered the penalties for not submitting them for years could have wiped me out financially. Had to hire a cross-border tax lawyer and redo just six years of returns. Then came even more forms for the same damn Canadian retirement accounts. New penalties vary from a minimum of $10K to 50% of the value of each foreign account.
For tax year 2016, I'll have to do an "exit" tax return, a resident tax return (for 27 days), a non-resident return (for the rest of 2016), and a Canadian tax return. Canada now demands the same disclosure of foreign bank accounts, which will include all my U.S. accounts. Because of US retirement and pension plans, I also believe I have the privilege of having to do a tax return for both countries for the rest of my life.
Make sure you do your online FATCA filing on time. That's the most important. Virtually the same information is required on form 8938, which you submit with your tax return. If you have foreign accounts (even if they're retirement accounts), you may also have to pay income tax on yearly gains in those accounts. I got away without it because of our tax treaty with the U.S., but your mileage may vary.
