Yes, this income will need to be reported on Form 8621. Form 8621 is not supported in TurboTax. Click here for the 8621 Form: https://www.irs.gov/pub/irs-pdf/f8621.pdf
The easiest way to include this is to print and fill the form out by hand, attach it to your 1040 and mail it to the IRS. Please see article below for 8621 instructions: https://ttlc.intuit.com/replies/6114657
Do you know if Form 8621 is appropriate for "Assurance Vie" from France
Can you explain why ? I had different answers on this same forum and CPAs, so I am confused
After looking at form 8938, in my opinion, a compte assurance vie is a wrapper account where you deposit money which is then invested. It is not a foreign security or foreign investment in a corporation. The custodian of the account is a bank and it must be treated as a foreign bank account.