If your foreign pension's value showed a gain, you do not have to report it unless it was a Capital Gain Distribution. A capital gain distribution is a payment from a mutual fund or an exchange-traded fund (ETF) of proceeds from the fund's sale of stocks or other assets.
You would only report the income on your tax return if you started receiving distributions.
Just FYI, you may be required to file an FBAR and/or Form 8938.
The FBAR Foreign Pension Plan reporting rules define a foreign pension as an account which must be reported. Even if the account was opened and earned prior to becoming a U.S. Person and no distributions are being made, it still must be reported on the FBAR.
Certain U.S. taxpayers holding specified foreign financial assets with an aggregate value exceeding $50,000 will report information about those assets on new Form 8938, which must be attached to the taxpayer’s annual income tax return.
See How do I file an FBAR report (FinCEN 114)? - TurboTax
@fjpuentes1974
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
