IRS 3520 Forms

Federal tax forms
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Information returns
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IRS 3520 Forms

Choose the necessary version or schedule of 3520 forms that you would like to electronically fill out and send to the IRS

Form 3520
Please select a version or a schedule from Form 3520 series of tax returns.
Form 3520-A
Please select a version or a schedule from Form 3520-A series of tax returns.

Prepare professional IRS 3520 Forms

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Questions & answers

Where to File. Use one of the following methods to file form FTB 3520-BE. For faster processing, submit electronically. Go to ftb.ca.gov, log in to MyFTB, and select File a Power of Attorney.
Generally, Form 3520 is a filing required of the recipient of foreign assets, and Form 3520-A is an additional, less commonly required form that is submitted by a trustee when there are beneficiaries or owners of the trust that are U.S. taxpayers.
Form 3520 for U.S. recipients of foreign gifts You're only required to file this form if you received. A gift of more than $100,000 from a foreign person or estate. A gift of more than $15,601 from a foreign partnership or corporation.
For gifts or bequests from a nonresident alien or foreign estate, you are required to report the receipt of such gifts or bequests only if the aggregate amount received from that nonresident alien or foreign estate exceeds $100,000 during the taxable year.
Each U.S. person treated as an owner of any portion of a foreign trust under the grantor trust rules (sections 671 through 679) is responsible for ensuring that the foreign trust files Form 3520-A and furnishes the required annual statements to its U.S. owners and U.S. beneficiaries.
Form 3520's purpose is to be an informational return that is included with your personal income tax returns. Failure to fill out Form 3520 could result in a 35% penalty on your foreign inheritance or gift. If you decide to put your foreign inheritance or gift in a foreign bank account, you likely need to file an FBAR.
GIFTS/Trusts FormDescriptionPriceForm 1041 (*Only simple trusts filing timely)U.S. Trust Return$600Form 709U.S. Gift Tax Return$250Form 3520Distributions from Foreign Trust$200Form 3520-AAnnual Information Return of Foreign Trusts$3501 more row
Form 3520 does not come as part of the TurboTax software package; but for that matter neither does it come with the consumer software offerings of any of our worthy competitors. But, fortunately, the form is easy enough to fill out by hand.
When Form 3520 is late-filed 14 it may result in fines and penalties. In general, Internal Revenue Service Form 3520 is used to report gifts from foreign individuals, entities, as well as trust distributions.
U.S. persons (and executors of estates of U.S. decedents) file Form 3520 to report. Certain transactions with foreign trusts. Ownership of foreign trusts under the rules of sections Internal Revenue Code 671 through 679. Receipt of certain large gifts or bequests from certain foreign persons.