So far I have spoken to 3 "consultants" who have all told me different things.
1) All investments have to be declared or NOT
2) Investment income that is reinvested must be declared or NOT
3) Growth in investments must be declared for CGT (but no reimbursement if they decrease in value) or NOT (see 2 above)
It is clear that Bank details have to be declared but not clear if the subaccount balance has to be declared.
Apparently as the flow of information exchange is increasing the French Impots are writing to ex-pats saying we know about this (etc) please confirm, etc. Again apparently if there has been no egregious avoidance, historical stuff is ignored and no fines applied.
I OFFER NO GUARANTEES ON ANY OF THIS.
But feedback would be very helpful.