As a U.S. citizen — regardless of how you became one, or where you currently live — you must file a U.S. income tax return each year. Your worldwide income must be declared on your U.S. income tax return.
I found a document on the subject, "U.S. Citizens Living in Canada" [PDF], from BMO's full-service broker, BMO Nesbitt Burns. Here's a notable excerpt:
1) I am a US citizen living in Canada. What are my income tax filing and reporting requirements?
US Income Tax Returns – A US citizen residing in Canada should be filing a US individual income tax return (Form 1040) to report
worldwide income on an annual basis, in addition to the Canadian
income tax return filed as a tax resident of Canada. Although income
is reported in both Canada and the US, double taxation is generally
mitigated through the use of foreign tax credits. The foreign tax
credit mechanism allows for any Canadian income tax paid to reduce
the amount of US income tax otherwise payable on the income that is
taxable on both the Canadian and US income tax returns.
FBAR Reporting – In addition to the filing of annual US income tax returns, there are a number of information reporting requirements
for US citizens. One of the requirements is a Report of Foreign Bank
and Financial Accounts (FBAR), Form TD F 90-22.1, which must be
filed if you have a financial interest (or signature authority) in
one or more accounts in a foreign country and the aggregate value of
those accounts exceeds US$10,000. While there are significant
penalties (in addition to possible criminal prosecution) associated
with the failure to file individual income tax returns and complying
with the FBAR reporting requirements, the IRS has indicated that
penalties may be waived if the failure to file the FBAR or a US
individual tax return is due to a reasonable cause. Beginning in
2014, under the new Foreign Account Tax Compliance Act (FATCA),
non-US financial institutions will be required to identify and report
on accounts held for US citizens.
The above information about a U.S. citizen's obligation to file was taken from page 1, but the document contains additional information relevant to U.S. citizens living in Canada, such as how RRSP, TFSA, and RESP accounts are treated, etc. I suggest you give it a read.
You should also seek the advice of a professional in Canada & U.S. cross-border taxation.