PK:
Thank you for your detailed reply.
I realized CPF and life insurance are FBAR/8983 reportable accounts, although too late. To make it compliance I need to submit 1040X by re-fill form 8938 and FinCen114 correctly. Your answers are valid and important as the growth in the accounts should not be filled in 1040 DIV and dose not impact the refund calculation.
I would assume surrender value increase in life insurance should be treated the same way, not considered as income until distributed or surrendered?
How about mutual funds? the growth in the funds should be reported as income in 1040 DIV, right? but the loss in fund is nowhere to claim, just my bad luck?
Thanks again, for your valuable answers
Jason
