@zymxhjjtm197227 , This is kind of duplicate of another post you put up about form 720, I think. However, I also think I now understand what you are trying to do ---
(a) you a US citizen/GreenCard/ Resident for tax purposes, residing in the USA with a spouse whom is similar status ;
(b) you have and also plan to file a joint return with your said spouse;
(c) you have been paying into a foreign life insurance ( whole life ) for the last two years-- 2018 and 2019 or 2019 and 2020.
(d) Now you would like to declare/recognize all these payments to a foreign entity such that when you liquidate the contract ( whole life insurance ) , you would like to reduce your tax exposure.
(e) we should dis-regard all references to Federal Excise Tax form your earlier post.
Is that about the situation -- please answer -- I will come back and close the loop
