Form 3520 resources
Foreign gifts, foreign inheritances, penalties, the FBAR cross-check. Written by tax-research staff for US persons. No jargon, no upsell — just the answers.
The official IRS instructions are 12 pages of fine print. Here is the same information in plain English, with examples — what every line of Form 3520 actually means.
Not every foreign gift triggers Form 3520. Here is the exact threshold by donor type, plus the common edge cases people miss.
Miss Form 3520 and the IRS can take up to 25% of the gift. Here is exactly how the penalty is calculated and what triggers it.
You inherited from a foreign relative. Here is the IRS reality: usually no tax, almost always a Form 3520 filing.
Form 3520 reports the receipt of a foreign gift. FBAR reports holding foreign bank accounts. Often you need both — here is how to know.
You realized last week that you should have filed Form 3520 last year. Here is the exact playbook for getting current.
Form 3520 is due with your individual return. Here are the exact dates, the extension mechanics, and what happens if you miss it.
Yes — by extending your 1040 via Form 4868 you also extend Form 3520 to October 15. Here is the exact mechanic.
Form 3520 is paper-only. Here is the exact mailing address, why certified mail is non-negotiable, and what to put on the envelope.
Form 3520 and Form 3520-A are two different forms with one digit between them. Here is the exact split.
You missed Form 3520. The IRS already wants 25%. Here is exactly what a reasonable-cause statement should say.
Found a mistake on your filed Form 3520? Here is exactly what to do. The IRS does not have an official "amended Form 3520" — you just refile.
The IRS does not send acceptance letters for Form 3520. Here is why certified mail with return receipt is the only proof that matters.
Most penalty-triggering errors on Form 3520 cluster into 10 patterns. Here they are, with how to avoid each.
The $100,000 trigger for Form 3520 is a soft line with hard consequences. Here is what counts toward it.
Two $60,000 gifts from related foreign donors equal one $120,000 reportable gift. Here is how aggregation works.
You received money from a foreign relative's will. Here is exactly how to put that on Form 3520 Part IV.
Gifts from foreign corporations and partnerships trigger Form 3520 at a much lower amount — $17,339 in 2024.
Foreign-partnership gifts are reported on Line 55 of Form 3520, with the same $17,339 threshold as foreign-corporation gifts.
Got gifts from three different foreign relatives in one year? Here is how to lay them out on Form 3520 Part IV.
A $200,000 wire from your foreign uncle could be a gift, a loan, or an inheritance. Each triggers a different filing answer.
Form 3520 reports gifts and bequests. Form 8938 reports specified foreign financial assets at year-end. Here is when both apply.
Schedule B Part III asks about foreign accounts. Form 3520 reports foreign gifts. Sometimes you check both.
The double-filing case: a foreign gift that lands in a foreign bank account. Here is the exact mechanic.
Form 3520 wants USD values, but you got the gift in pesos / pounds / rupees. Here is exactly which rate to use.
The difference between yesterday's rate and last March's rate can move you across the threshold. Here is why the IRS cares.
Three different methods, three different answers. Here is how to pick the right one for Form 3520.
You're a US citizen living overseas and got a foreign gift. Citizenship-based taxation does not give you a pass on Form 3520.
A US person died and was supposed to file Form 3520. Here is who files now and how.
Two spouses, one foreign gift. Here is who actually files Form 3520 and whether you can file jointly.