J1 Scholar lived in US for more than 3 years, do we need to report foreign financial accounts and income

Hi, I am a Canadian citizen and have been living in the USA as a J1 visa scholar for more than 3 years since Aug 2016. Am I required to file 1040 Resident and report my foreign financial accounts and foreign income? My wife and I are filing jointly and she is currently a student who does not make any income in the USA. Is she also required to report her foreign financial accounts and income? We both also make some rental income and my wife also has some investment income in Canada.