The filing requirements on Form 3520 for foreign trusts, accounts, large gifts or inheritances can be tricky. Have all of your questions answered and get the help you need by contacting our tax team. Our attorneys have helped expats from around the world to resolve their Form 3520 issues and other international tax questions.

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Do You Need to File Form 3520?

There are 3 common reasons you might file Form 3520:

• You are a U.S. citizen or resident who owns a foreign trust 
• You make certain transactions with a foreign trust
• You receive a large gift or inheritance from certain foreigners
  

What Do You Report on Form 3520?

• Foreign trusts and accounts
• Receipt of large gifts or inheritances from certain foreigners
• Ownership of foreign trusts following the rules of sections Internal Revenue Code (IRC) 671-679 
  

Each foreign trust transaction must be filed separately. Therefore, get an experienced attorney to ensure you have Form 3520 filed correctly and to save yourself from serious consequences.