• Form 3520 (Rev. December 2023)Department of the Treasury Internal Revenue Service

    Go to www.irs.gov/Form3520 for instructions and the latest information.

  • Annual Return To Report Transactions WithForeign Trusts and Receipt of Certain Foreign Gifts

  • Go to www.irs.gov/Form3520 for instructions and the latest information.
  • Note: All information must be in English. Show all amounts in U.S. dollars. File a separate Form 3520 for each foreign trust.
  • For calendar year 20 , or tax year beginning , 20 , ending , 20
     - -
    2 digit month, 2 digit day, 4 digit year
  • A Check appropriate boxes:
  • B Check box that applies to person filing return:
  • Check all applicable boxes. See applicable instructions.
  • d Date foreign trust was created
     - -
    2 digit month, 2 digit day, 4 digit year
  • 3 Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all relevant trust information? If "Yes," complete lines 3a through 3g. If "No," and you are required to complete Part I, complete lines 15 through 18.
  • d Date of death
     - -
    2 digit month, 2 digit day, 4 digit year
  • f Check applicable box.

  • Part I Transfers by U.S. Persons to a Foreign Trust During the Current Tax Year (see instructions)

  • c Date trust was created
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    2 digit month, 2 digit day, 4 digit year
  • 7a Will any person (other than the foreign trust) be treated as the owner of the transferred assets after the transfer?
  • 7a Will any person (other than the foreign trust) be treated as the owner of the transferred assets after the transfer?
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  • 8 Was the transfer a completed gift or bequest? If "Yes," see instructions
  • 9a Now or at any time in the future, can any part of the income or corpus of the trust benefit any U.S. beneficiary?
  • b If "No," could the trust be revised or amended to benefit a U.S. beneficiary?
  • 10 Reserved for future use

  • Schedule A—Obligations of a Related Trust (see instructions)

  • 11a During the current tax year, did you transfer property (including cash) to a related foreign trust in exchange for an obligation of the trust or an obligation of a person related to the trust? See instructions. If "Yes," complete the rest of Schedule A, as applicable. If "No," go to Schedule B.
  • b Were any of the obligations you received (with respect to a transfer described in line 11a above) qualified obligations? If "Yes," complete the rest of Schedule A and attach a copy of each loan document entered into with respect to each qualified obligation reported on line 11b. If these documents have been attached to a Form 3520 filed within the previous 3 years, attach only relevant updates. If "No," go to Schedule B.
  • If "No," go to Schedule B.
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  • 12 With respect to each qualified obligation you reported on line 11b, do you agree to extend the period of assessment of any income or transfer tax attributable to the transfer, and any consequential income tax changes for each year that the obligation is outstanding, to a date 3 years after the maturity date of the obligation?Note: You have the right to refuse to extend the period of limitations or limit this extension to a mutually agreed-upon issue(s) or mutually agreed-upon period of time. Generally, if you refuse to extend the period of limitations with respect to each qualified obligation you reported on line 11b, then such obligation is not a qualified obligation and you cannot check "Yes" to the question on line 11b.

  • Schedule B—Gratuitous Transfers (see instructions)

  • 13 During the current tax year, did you make any transfers (directly or indirectly) to the trust and receive less than FMV, or no consideration at all, for the property transferred? If "Yes," complete columns (a) through (i) below and the rest of Schedule B, as applicable. When completing columns (a) through (i) with respect to each nonqualified obligation, enter -0- in column (h). If "No," go to Schedule C.
  • Schedule B - Gratuitous Transfers (see instructions)
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  • 14 If you have a sale or loan document in connection with a transfer reported on line 13, complete 14a through 14c and attach the relevant document(s). If these documents have been attached to a Form 3520 filed within the previous 3 years, attach only relevant updates.
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  • Part I Schedule B-Gratuitous Transfers (continued)

  • Note: Complete lines 15 through 18 only if you are required to complete Part I and answered "No" to line 3, acknowledging that the foreign trust did not appoint a U.S. agent to provide the IRS with all relevant trust information.
  • (c)U.S. beneficiary?Part I Schedule B - Gratuitous Transfers (continued)
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  • 18 If you checked "No" on line 3, you are required to attach a copy of all trust documents as indicated below. If these documents have been attached to a Form 3520-A or Form 3520 filed within the previous 3 years, attach only relevant updates.
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  • Schedule C-Qualified Obligations Outstanding in the Current Tax Year (see instructions)

  • 19 Did you, at any time during your tax year, hold an outstanding obligation of a related foreign trust (or a person related to the trust) that you reported as a qualified obligation in the current tax year? If "Yes," complete columns (a) through (f) below for each obligation.
  • If "Yes," complete columns (a) through (f) below for each obligation.
    Rows
  • Does the obligation still meet the criteria for a qualified obligation?
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  • Part II U.S. Owner of a Foreign Trust (see instructions)

  • Part II U.S. Owner of a Foreign Trust (see instructions)
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  • c Date foreign trust was created
     - -
    2 digit month, 2 digit day, 4 digit year
  • 22 Did the foreign trust file Form 3520-A for the current tax year?

  • Part III Distributions to a U.S. Person From a Foreign Trust During the Current Tax Year (see instructions)

  • Note: If you received an amount from a portion of a foreign trust of which you are treated as the owner, only complete lines 24 and 27.
    24 Enter cash amounts or FMV of property received, directly or indirectly, during your current tax year, from the foreign trust (exclude loans and uncompensated use of trust property included on line 25).
  • Part III Distributions to a U.S. Person From a Foreign Trust During the Current Tax Year (see instructions)
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  • 25 During your current tax year, did you (or a person related to you) receive a loan or uncompensated use of trust property from a related foreign trust (including an extension of credit upon the purchase of property from the trust)?
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  • 26 With respect to each obligation you reported as a qualified obligation on line 25, do you agree to extend the period of assessment of any income or transfer tax attributable to the transaction, and any consequential income tax changes for each year that the obligation is outstanding, to a date 3 years after the maturity date of the obligation?
  • 28 Did the trust, at any time during the current tax year, hold an outstanding obligation of yours (or a person related to you) that you reported as a qualified obligation?
  • If "Yes," complete columns (a) through (f) below for each obligation.
    Rows

  • Part III Distributions to a U.S. Person From a Foreign Trust During the Current Tax Year (continued)

  • 29 Did you receive a Foreign Grantor Trust Beneficiary Statement from the foreign trust with respect to a distribution?If "Yes," attach the statement and do not complete the remainder of Part III with respect to that distribution.If "No," complete Schedule A with respect to that distribution. Also, complete Schedule C if you enter an amount greater than zero on line 37.If a foreign non-grantor trust, check "N/A."
  • 30 Did you receive a Foreign Nongrantor Trust Beneficiary Statement from the foreign trust with respect to a distribution?If "Yes," attach the statement and complete either Schedule A or Schedule B below. See instructions. Also, complete Schedule C if you enter an amount greater than zero on line 37 or line 41a.If "No," complete Schedule A with respect to that distribution. Also, complete Schedule C if you enter an amount greater than zero on line 37.If a foreign grantor trust, check "N/A."

  • Schedule A—Default Calculation of Trust Distributions (see instructions)

  • Schedule B—Actual Calculation of Trust Distributions (see instructions)

  • Schedule C—Calculation of Interest Charge (see instructions)

  • Part IV U.S. Recipients of Gifts or Bequests Received During the Current Tax Year From Foreign Persons (see instructions)

  • 54 During your current tax year, did you receive more than $100,000 that you treated as gifts or bequests from a nonresident alien (including a distribution received from a domestic trust treated as owned by a foreign person) or a foreign estate? See instructions for special rules regarding related donors
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  • 55 During your current tax year, did you receive amounts from a foreign corporation or a foreign partnership that you treated as gifts in excess of the amount provided in the instructions? See instructions regarding related donors
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  • 56 Do you have any reason to believe that the foreign donor, in making any gift or bequest described in lines 54 and 55, was acting as a nominee or intermediary for any other person? If "Yes," see instructions

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  • Under penalties of perjury, I declare that I have examined this return, including any accompanying reports, schedules, or statements, and to the best of my knowledge and belief, it is true, correct, and complete.
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    2 digit month, 2 digit day, 4 digit year

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    2 digit month, 2 digit day, 4 digit year
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