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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 3520
for the current year.
IRS Form 3520 Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
What Is IRS Form 3520?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 3520?
A: IRS Form 3520 is an annual return that must be filed to report transactions with foreign trusts and the receipt of certain foreign gifts.
Q: Who needs to file IRS Form 3520?
A: Anyone who has received specified foreign gifts or who is treated as the owner of a foreign trust needs to file IRS Form 3520.
Q: What is considered a specified foreign gift?
A: A specified foreign gift is any gift or inheritance from a nonresident alien individual or foreign estate that exceeds a certain threshold.
Q: What are the penalties for not filing IRS Form 3520?
A: The penalties for not filing IRS Form 3520 can be significant, including potential penalties equal to the greater of $10,000 or 35% of the gross value of the property received from a foreign trust.
Q: When is the deadline for filing IRS Form 3520?
A: IRS Form 3520 is due on the same date as your federal income tax return, including any extensions.
Form Details:
- A 6-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 3520 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 3520 Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
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