3520

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

Agency
IRS
Revision
Rev. December 2023
Fillable fields
462
Pages
6
Official source
IRS form page
Checked
October 21, 2026
Fill 3520 online
Page 1 of form 3520

Form 3520: Annual Return for Foreign Trust Transactions and Certain Foreign Gifts

Form 3520 is the annual return U.S. persons, and executors of estates of U.S. decedents, file with the IRS to report certain transactions with foreign trusts, ownership of foreign trusts under the rules of sections 671 through 679, and receipt of certain large gifts or bequests from certain foreign persons. A separate Form 3520 is filed for each foreign trust.

The form has four parts: transfers to a foreign trust (Part I), a U.S. owner of a foreign trust (Part II), distributions from a foreign trust (Part III) and gifts or bequests from foreign persons (Part IV). The filer completes the identifying information on page 1 and the parts that apply. The form says all information must be in English and all amounts in U.S. dollars.

The instructions say Form 3520 is generally due on the 15th day of the 4th month after the end of the filer's tax year, a date that may differ from and is not tied to the income tax return due date. You can fill out Form 3520 free in your browser on this page and download the result without an account.

What's on Form 3520

Page 1: identifying information

Items A to C, the filer on line 1, the foreign trust on line 2, any U.S. agent on line 3, and a U.S. decedent on lines 4a to 4f.

Part I: transfers to a foreign trust

Lines 5 to 19, with Schedule A for obligations of a related trust, Schedule B for gratuitous transfers and Schedule C for qualified obligations outstanding.

Part II: U.S. owner of a foreign trust

Lines 20 to 23: the trust owners, where the trust was created, whether the trust filed Form 3520-A, and the gross value of the portion you are treated as owning.

Part III: distributions from a foreign trust

Lines 24 to 53: distributions, loans and use of trust property, beneficiary statements, the default or actual calculation, and the interest charge.

Part IV: gifts from foreign persons

Lines 54 to 56: gifts or bequests from nonresident aliens or foreign estates, gifts from foreign corporations or partnerships, and a nominee or intermediary question.

Signature and paid preparer

The filer signs under penalties of perjury with title and date. A paid preparer completes the Paid Preparer Use Only section.

How to fill out Form 3520

  1. 1

    Tax year and items A to C

    Fill in the calendar year, or the fiscal year dates, at the top. Check initial, final or amended return in item A, the filer type in item B, and item C only when Form 8938 counts this form.

  2. 2

    Line 1

    Enter the filer's name, TIN and address. Joint filers list names and TINs in the order used on Form 1040 or 1040-SR and check line 1i. Lines 1j and 1k cover a 2-month extension or an extended tax return.

  3. 3

    Lines 2 and 3

    Enter the foreign trust's name, EIN, address and creation date. On line 3, answer whether the trust appointed a U.S. agent. If No and Part I applies, lines 15 to 18 are completed too.

  4. 4

    Parts I to III

    Complete only the parts that apply. On line 22, a U.S. owner attaches the Foreign Grantor Trust Owner Statement, or a substitute Form 3520-A if the trust did not file Form 3520-A.

  5. 5

    Part IV

    On line 54, list each gift or bequest over $5,000 when the total from nonresident aliens or foreign estates is over $100,000. The instructions say gifts from related donors are added together.

  6. 6

    Sign

    An individual or fiduciary signs; a partner or LLC member signs for a partnership, and an authorized officer for a corporation. The instructions say e-signatures are accepted.

Why fill Form 3520 on indox

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Where to send it, due dates and penalties

Due date

Generally the 15th day of the 4th month after the tax year ends; with an income tax return extension, no later than the 15th day of the 10th month. Certain individuals abroad have until the 15th day of the 6th month (June 15), with a statement.

Where to send

Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409.

Complete returns only

The instructions say only a complete Form 3520, including all required attachments, is considered timely filed.

Trust reporting penalties

Generally the greater of $10,000 or 35% of property transferred (Part I) or distributions received (Part III), or 5% of the gross value owned (Part II). No penalty applies with reasonable cause and not willful neglect.

Foreign gift penalty

For foreign gifts not reported on time, the instructions describe a penalty of 5% of the amount of the gifts for each month the failure continues, not to exceed a total of 25%.

Other reporting

The instructions say a filer may also need FinCEN Form 114 (FBAR) and Form 8938. Items treated differently from the trust's Form 3520-A are reported on Form 8082.

Related forms

Who files Form 3520?

  • U.S. transferors to a foreign trust

    A U.S. person responsible for reporting a reportable event, or who transferred property to a related foreign trust for an obligation or holds a qualified obligation from it, completes Part I.

  • U.S. owners of a foreign trust

    A U.S. person treated as owning any part of a foreign trust under sections 671 through 679 completes Part II. The instructions say this applies even with no transactions that year.

  • Recipients of trust distributions

    A U.S. person, or the executor of a U.S. person's estate, who received a distribution from a foreign trust, or certain loans or uncompensated use of trust property, completes Part III.

  • Recipients of large foreign gifts

    A U.S. person who received more than $100,000 treated as gifts or bequests from a nonresident alien or foreign estate, or more than the section 6039F threshold from foreign corporations or partnerships, completes Part IV.

  • Executors of U.S. decedents

    An executor reports a decedent's transfer to a foreign trust by reason of death, ownership of a foreign trust, or trust assets included in the estate, on lines 4a to 4f.

  • Spouses filing jointly

    Spouses filing a joint income tax return who are both transferors, grantors or beneficiaries of the same foreign trust may file a joint Form 3520 and check line 1i.

The instructions list four situations, and any one of them is enough. Line B shows the filer type: individual, partnership, corporation, trust or executor.

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Questions about Form 3520

Is Form 3520 attached to my income tax return?

The instructions give a separate address, the Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409, and say the Form 3520 due date may differ from and is not tied to the income tax return due date.

When is a gift from a foreign person reported?

Part IV covers more than $100,000 treated as gifts or bequests from a nonresident alien or foreign estate, or more than the section 6039F threshold from foreign corporations or partnerships. The instructions point to IRS.gov/InflationAdjustment for that threshold.

Do I list every foreign gift?

Columns (a) to (c) of line 54 are completed for each gift or bequest over $5,000. If none exceeds $5,000, the instructions say to enter "No gifts or bequests exceed $5,000." in column (b) of the first line.

How is Form 3520 different from Form 3520-A?

Form 3520 is filed by U.S. persons. Form 3520-A is the foreign trust's annual information return. A U.S. owner attaches the trust's owner statement to Form 3520, or a substitute Form 3520-A if the trust did not file.

Do Canadian RRSPs go on Form 3520?

The instructions list transfers to, ownership of and distributions from a Canadian RRSP, a Canadian RRIF, or other Canadian retirement plans within section 3 of Rev. Proc. 2014-55 among the exceptions to filing.

Can spouses file one Form 3520?

Yes, if they file a joint income tax return and are both transferors, grantors or beneficiaries of the same foreign trust. They check the box on line 1i.

What happens if Form 3520 is late?

The instructions describe penalties under section 6677 for the trust parts and section 6039F for foreign gifts, plus more penalties if noncompliance continues over 90 days after an IRS notice. No penalty applies with reasonable cause and not willful neglect.