# Form 3520

URL: https://pdf.net/pdf-forms/financial-forms/form-3520
Category: Financial Forms 
Attributes: Trusted by accountants, Official IRS form

Form 3520 is used to report certain transactions with foreign trusts, ownership of foreign trusts, and receipts of large gifts and bequests from foreign individuals.

Open fillable Form 3520 in our editor and enter the required information in the blank fields. Afterward, you can download the document and save it to your device for further use.

## Versions

- 2023 — [download PDF](https://cdn.sanity.io/files/i16te7yp/production/d5ad83e00bc6e71ef495f6299f90cd5827b92f03.pdf)

## How to Fill Out a 3520 Form

Step 1: Open Form 3520 from our fillable PDF forms hub.

Step 2: Enter information about yourself and check the box describing your reason for submitting this report.

Step 3: Fill out only the section that applies to you.

Step 4: Review and sign the document.

Step 5: Print this form and send it to the IRS by mail.

## Facts

### What Is a 3520 Form?

Form 3520 is a report detailing a U.S. citizen’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.

### Who Is Required to Fill Out a 3520 Form?

Every U.S. citizen 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 a gift of more than $100,000 from a foreigner is required to file Form 3520.

### When Should a 3520 Form Be Submitted?

A Form 3520 for taxpayers living inside the U.S should be submitted by 15th April. However, U.S. citizens who live abroad or are in the military or navy service abroad receive an automatic two-month extension and should submit the form by 15th June.

### What Are the Penalties for Providing Incorrect Information?

Penalties for providing incorrect information are calculated as a percentage of the gross value transferred to or received from a foreign trust. In both cases, you will be required to pay 35% of the transfer you’ve made or the distribution you’ve received. However, if you can prove that you’ve provided incorrect information due to a reasonable cause, you may be able to avoid them.

### How Do I Submit a 3520 Form?

You can submit a 3520 Form by mailing it to the IRS’s P.O. box provided on the official website. Currently, it’s not possible to file this document electronically, so you must do it in paper form.

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