Tax Form 3520  
Form 3520 - Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts

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Form 3520

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Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Form 3520

Use Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, if:

  • You are the responsible party for reporting a reportable event that occurred during the current tax year, or you held an outstanding obligation of a related foreign trust (or a person related to the trust) that you treated as a qualified obligation during the current tax year. Responsible party, reportable event, and qualified obligation are defined on pages 3 and 4.
    Complete the identifying information on page 1 of the form and the relevant portions of Part I. See the instructions for Part I.
  • You are a U.S. person who, during the current tax year, is treated as the owner of any part of the assets of a foreign trust under the grantor trust rules.

    Complete the identifying information on page 1 of the form and Part II. See the instructions for Part II.

  • You are a U.S. person who received (directly or indirectly) a distribution from a foreign trust during the current tax year or a related foreign trust held an outstanding obligation issued by you (or a person related to you) that you treated as a qualified obligation (defined on page 3) during the current tax year.

    Complete the identifying information on page 1 of the form and Part III. See the instructions for Part III.

  • You are a U.S. person who, during the current tax year, received either:
    • More than $100,000 from a nonresident alien individual or a foreign estate (including foreign persons related to that nonresident alien individual or foreign estate) that you treated as gifts or bequests or
    • More than $12,375 from foreign corporations or foreign partnerships (including foreign persons related to such foreign corporations or foreign partnerships) that you treated as gifts.
      Complete the identifying information on page 1 of the form and Part IV. See the instructions for Part IV.

 

From Fedforms.Gov:
"U.S. persons file Form 3520 to report certain transactions with foreign trusts, and receipt of certain large gifts of bequests from certain foreign persons."


DOWNLOAD Form 3520

This form may be downloaded directly from the IRS website. To open or download, in PDF format, simply click on the link below:

Form 3520

 



 

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