@mom2collegekids - Currency control policies vary from one country to another, and over time even with just one country. Venezuela used to have reasonable money export policies for students abroad, but then suddenly changed its policy leaving lots of students stranded mid-semester in the US and other countries. It was a huge mess for those students. Most students were legitimately studying abroad, but there also was a certain amount of fake studying going on that people used to get around the currency controls, and the government crackdown (at least officially) was intended to put an end to that. If I recall correctly, the only students who didn’t get access to their money cut off, were those with scholarships from the VZ government.
@thumper1’s trust analogy is a good one. You can report the asset and explain any restrictions to the college FA office. The college may or may not make accommodations for the restrictions. But you have to report the asset, period.
moderator’s note
Closing thread until we find out OP’s actual status. Then we will open the appropriate thread.