Form 3520 is used to report certain transactions with foreign trusts, ownership of foreign trusts, and receipts of large gifts and bequests from foreign persons.
Now you can access the fillable Form 3520 in our editor and enter the required information in the blank fields right then and there. Afterward, you can download the document and save it to your device for further use.
Form 3520 is an information return detailing a U.S. person’s transactions with foreign trusts, ownerships of trusts, and receipts of large gifts and bequests from abroad. Though it is not a tax return, it helps the IRS correctly determine tax liability.
Every U.S. person who transfers property (including cash) to or receives a distribution from a foreign trust, owns any part of the assets of a foreign trust, or receives gifts or bequests of more than $100,000 from a nonresident alien or foreign estate is required to file Form 3520. The threshold for gifts from a foreign corporation or partnership is lower: $20,116 for 2025.
A Form 3520 for taxpayers living inside the U.S. should be submitted by April 15, or by October 15 if you’ve extended your income tax return. However, U.S. citizens and residents who live abroad or are on military duty outside the U.S. receive an automatic two-month extension and should submit the form by June 15, attaching a statement showing they qualify.
Penalties for providing incorrect information are generally the greater of $10,000 or a percentage of the gross value transferred to or received from a foreign trust: 35% of the transfer you’ve made or the distribution you’ve received.
For unreported foreign gifts, the penalty is 5% of the gift for each month the failure continues, up to 25%. However, if you can prove that you’ve provided incorrect information due to a reasonable cause, you may be able to avoid them.
You can submit a 3520 Form by mailing it, separately from your income tax return, to the IRS Service Center at P.O. Box 409101, Ogden, UT 84409. Currently, the IRS provides no way to file this document electronically, so you must do it in paper form.
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You can get a blank Form 3520 from pdf.net; simply select it from our website, open it in our editor, and begin filling out the boxes. Once you’re done, you can download it to your device and print it.
If your Form 3520 is missing information, you should file an amended one as soon as possible. Complete a new document and check the “Amended return” box in Item A. To make sure you have all the required information, cross-check your form with a 3520 example.
Yes, you can fill out your Form 3520 online in our editor, where you can open the form directly from our website. However, once you complete it, you’ll have to download and print it, as the IRS currently provides no way to submit this document electronically.
This form is free to view and edit, but you’ll need to purchase a subscription if you want to save the completed version to your device.
You can correct mistakes after submitting Form 3520 by filing an amended form, following the same steps as when the information is missing.
The IRS does not publish an average processing time for Form 3520, but it typically takes several weeks and sometimes even months.