FBAR reporting of UK defined benefit pension

I have a defined benefit UK pension which cannot be transferred to a non-DB pension. I'm no longer in the plan, and when I start collecting it will be a specified annual amount until death. In the meantime it has no cash value and I'm not sure how to calculate max value for FBAR reporting. Does anyone else have this issue? If so, what did you do?

I have a defined benefit UK pension which cannot be transferred to a non-DB pension. I'm no longer in the plan, and when I start collecting it will be a specified annual amount until death. In the meantime it has no cash value and I'm not sure how to calculate max value for FBAR reporting. Does anyone else have this issue? If so, what did you do?

I’d list as max value unknown. I do this for my DC pension as I have no idea what the max value was for the year.

I left it off completely, as I am in receipt of it and pay tax….  Each tax acct I have used as dime it differently. 

I report my UK defined benefit (final salary)  payments on my IRS returns as income but don’t include them on my FBAR. I use a substitute 1099-R to report them.

For me, I’ve got to file an FBAR anyhow. To add a pension is just another line that stays there each year with no changes needed. That same form uploads yearly, simple.
I’d rather file the pension details and not need to, then find out years later on audit that I should have; but didn’t.

For me, I’ve got to file an FBAR anyhow. To add a pension is just another line that stays there each year with no changes needed. That same form uploads yearly, simple.
I’d rather file the pension details and not need to, then find out years later on audit that I should have; but didn’t.

Safe enough for sure. I have no signature authority over it so I leave it out.

A defined benefit plan is a specified foreign financial asset and always reported on Form 8938. It is never reported on an FBAR.

There is that grey area with retirement annuities too. I’ll report on FBAR and 8938, although there is no signature authority, as there is no balance. Definitely for my DC plan, I file on both FBAR and 8938. As for DB accounts you get two camps.

There is that grey area with retirement annuities too. I’ll report on FBAR and 8938, although there is no signature authority, as there is no balance. Definitely for my DC plan, I file on both FBAR and 8938. As for DB accounts you get two camps.

So it really is confusing as all that. I've left the question with my accountant. I'll post if he says something new and interesting