How do I report my pension if its value is not calculated until retirement?

Some practitioners take the position that defined benefit plan does not need to be reported on FBAR because plan participant does not have the account in their name with control or signatory authority.

However, this advice contradicts the Basic Questions and Answers on Form 8938 suggesting a "reasonable estimate" of the value of defined benefit plan. 

Defined benefit plan usually has a residual cash value payable to the beneficiaries if plan participant dies before reaching retirement age. This is the value of defined benefit plan (the UK or another country) reportable on FBAR.

If you can reasonably estimate the value of the pension, enter the estimate as the maximum value.

If you cannot reasonably estimate, then enter the sum of distributions during the year as the maximum value.

If you cannot estimate and there were no distributions, then the account does not need to be reported. 

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