pk
Level 15
Level 15

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@Curious One , as I understand  your post --

1. you are talking about a revocable trust for the purposes of investing/ growing

2. you are sole owner and trustee of the trust

3. You have recognized the growths every year  ( what form did you file to recognize this )

4. you have used  proper exchange rate to recognize the earnings.

5. The only special part here is that the trust is foreign trust ( instead of being formed under US / State laws.

6. Now  you want to liquidate the trust  and the questions is does this need to be reported on form 3520 or any other forms?

 

I am assuming that you have been reporting the foreign trust on form 3520-A as US owner of a foreign trust.  If you did not then , I don;t how  you recognized the earnings.  Here is what I see from the IRS-->  https://www.irs.gov/pub/irs-pdf/i3520a.pdf

I am also assuming that you have been filing FATCA / FBAR forms all these years -- yes ?

 

Is there more I can do for you ?