The cash value of your foreign life insurance policy is considered a foreign financial asset.
You'll need to file Form 8938 with your tax return if your total foreign financial assets exceed the thresholds specified on page 4 of this IRS document.
You'll also need to file a FBAR if your total foreign financial assets exceed $10,000 at anytime during the tax year. See this FinCen document.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
