Form 8938 - Foreign employer managed retirement account equivalent to a US Roth IRA

I have a foreign employer managed retirement account equivalent to a US Roth IRA that our employer and I contributed to as long as I was employed with the company and before moving to the US and becoming a US resident/citizen. No additional money was added by me or the former employer after becoming a US resident.

The account has been managed by the fund that was originally hired by the former employer gaining or losing money depending on the market and last year the balance went over $100K (married filing jointly) so we have to file form 8938 in addition to the FBAR we have been filing. Over the years I have been a US resident the account gained ~30%.

My questions are:

1. Does this account fall under line 35 or line 36 on the 8938 Form.

2. If I take the money out close the account and bring the money here, do I owe any taxes on it in the US? I am exempt at the foreign country and there is no tax treaty that covers this between the countries.

Answer to question 1 is the most urgent so if you know the answer to that but not to the second one I would be grateful for your input as well

Thank you so much!

TaxTurist

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