@dsyhome0510 , very generally, this is not income and generally not taxable till distribution. This is not generally a qualified plan. However, because this is foreign account "worth " something, it comes under FBAR and possible FATCA ----- you should file the FBAR form at least if the value ( cash) is => than US$10,000.
I would also hasten to add, the actual treatment may be different based on the country where it is and whether you are a US person ( citizen/GreenCard / Resident for tax purposes ).
pk
