I am single, and a legal permanent resident of the US. I have a United Kingdom pension plan (similar to an IRA) with Zurich Assurance. I have not drawn anything from this plan. The underlying assets in the plan are worth approx. $77,000.
Do I need to report this as foreign financial assets - Form 8938 maybe?
Is Zurich Assurance a foreign financial institution. I believe they have branches in the US, but I'm not sure.
Even though Zurich has offices in the USA, it appears to be a foreign company, so your account is a foreign financial account. As such, should file Form 8938.
You are also required to file an FBAR with the US Treasury Department. TurboTax does not prepare this form, as it is not a tax form.
Please follow this link for more information. https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements
Even though Zurich has offices in the USA, it appears to be a foreign company, so your account is a foreign financial account. As such, should file Form 8938.
You are also required to file an FBAR with the US Treasury Department. TurboTax does not prepare this form, as it is not a tax form.
Please follow this link for more information. https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements