As a US Resident Alien, you are generally subject to the same tax laws as are US Citizens. Therefore you would not need to report the mere fact that you own real estate (one type of "property") abroad, unless you were collecting income from it (let's say rental income). In that instance the income from the "property" would become taxable, and reportable, in the sense that you'd need to file a Form 1040 Schedule E (for a rental property). Similarly, if you own business assets abroad, that would be reportable, and taxable.
But, if your situation is relatively simple, and you maybe own a house or some vacant land abroad, then no, there are no special reporting requirement or disclose needed just for that. Notwithstanding, you could be allowed to deduction foreign property taxes paid on the real estate as a Form 1040 Schedule A "itemized deduction(s)."
Assuming, however, that you own a
bank account, or other financial assets, in a foreign country (which is anywhere
outside of the USA or its Territories), then there are certain foreign financial
account reporting requirements that you must meet annually, in addition to
filing a primary tax return (Form 1040, Form 1040A, or Form 1040EZ). Financial assets are another form of "property" and so if this is what you meant by your question, then you will want to read the following carefully.
There are, in fact, two
separate disclosure forms that may be required; each also has different
reporting rules. One is known as IRS Form 8938, and can be
attached to the relevant yearly Form 1040 tax return. The other is FinCen
Form 114, which can only be filed via the internet. The following
Internal Revenue Service webpage describes them in some detail, and provides
their dollar value reporting levels:
https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
Form 8938 is included in
TurboTax; FinCen Form 114 is not, and you may need to access that reporting
webpage separately, if your foreign financial assets total over the
limit(s). Note that you can get to the FinCen reporting internet site
through the above IRS link.
We realize that all of the above may seem confusing. You're not mistaken: it is confusing, sometimes even to tax professionals. But that is the current state of US tax law in this area, as it pertains to your question. Thank you for asking this.
