For tax purposes, you generally don’t owe taxes until you realize the gains from the options you hold by exercising them. However, all options are assets. They have values. Even if the options are out-of-money (i.e. no intrinsic values), they still have time values. When companies issue options, they account for their estimated cost of issuance on their balance sheets as liabilities. Their liabilities are your assets. The estimated value of their liabilities are the estimated value of your assets. If you’re required to report all your assets, it seems to me that you need to include such assets.