I'm Canadian living in the US for the last 6 years. Recently, I obtained a US passport.
I've had a bank account in Canada during last 6 years I've been living in the US. On the account there's a 5 figure dormant savings account - savings I earned while living in Canada. Inside the bank account in Canada, everything is on a checking account, however, in the past couple of years, I also had an investment account. Over the years, the investment account made little money on the overall, if not being net negative and I moved it all to checking last in 2020.
Am I in trouble due to the fact that I didn't report this account while being on a green card in the US? Now I'd like to transfer money from the Canadian bank account into a US bank - can I just do a wire transfer - is the IRS going to consider this as a problem of some kind? What's my best best in this situation to get the money transferred into the US?
Update to answer some questions: Even though there was some income in the range of 100$ per year on those investments and possibly negative over the years, I did not mention those incomes on my US taxes in previous years.