Fantastic and thanks for the clear answer. It is clear that I can file the lump sum retirement annuity income in US tax year for 2024 then. Please allow me a follow up question:
The 'temporary or transfer" bank account in South Africa was in my name even though I did not have access to the funds in 2023. The financial institution transferred the money after South African tax, including interest earned and after they deducted their fees in 2024 to my US bank account. So, the question is: Do I declare the value of the temporary bank account in South Africa under the Foreign Bank accounts over $10,000 including any interest that was earned in 2023? Or do I just cover all income including the interest when they transferred it to my US Bank Account in 2024 and thus don't mention the temporary/transfer bank account at all in 2023?
