Form 3520: Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts

Reports certain transactions with foreign trusts and the receipt of large gifts or bequests from foreign persons.

Download Form 3520 PDF About on IRS.gov Instructions PDF

Who Files This Form?

U.S. persons who are treated as owners of a foreign trust, receive distributions from a foreign trust, or receive gifts over $100,000 from foreign persons.

Key Fields

Foreign trust information
Transactions with foreign trusts
Distributions received
Foreign gifts received
U.S. owner reporting

Filing Deadlines

Due Date

April 15

With Extension

October 15

Late Filing Penalty

Penalties of 35% of the gross value of trust distributions or 25% of the gross value of trust property for failure to report; 5% per month (up to 25%) for failure to report foreign gifts.

Related Forms

Form 3520-A

Annual Information Return of Foreign Trust With a U.S. Owner

Form 8938

Statement of Specified Foreign Financial Assets

FinCEN 114 (FBAR)

Report of Foreign Bank and Financial Accounts

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