US Citizen from Birth, but never lived in USA until recently. My Tax Status?

Hi there,

I was registered at birth as a US citizen, but I was born in the UK.  I lived in the USA as a student in 2001/2002, and moved to the USA in 2006.  As a result, I have money in bank accounts in the UK.  I also have UK earnings, pre-2006, which I never thought to report.

What is my tax status, as presumably, as a US citizen I should have been filing tax returns for any earned income, for all time?  What would be my next step?

Thanks!

You appear to be delinquent for some years with filing US income taxes and FBARs.

You can take advantage of the OVDI and pay a reduced penalty providing that you file original or amended tax returns for 2003 to 2010, FBARs and paperwork and pay the tax and the penalty by 31 August.

The OVDI is discussed by the IRS here:
http://www.irs.gov/newsroom/article/0,,id=234900,00.html