You may be subject to civil monetary penalties and/or criminal penalties for FBAR reporting and/or recordkeeping violations.  Assertion of penalties depends on facts and circumstances. Civil penalty maximums must be adjusted annually for inflation.

• For those whose lack of filing was non-willful (meaning you didn’t know about your reporting obligation), the fine can be $12,921 per violation.
• If it is determined that you purposely avoided filing, the fine can be $129,210 or 50% of the balance of the account at the time of the violation – whichever is greater.
  

As you can see, penalties can add up quickly if you are years behind in your FBAR filing!