My parents sent me money that exceeded $100k so I'm filing 3520. They sent it in several transfers, some of which are sent by their friends (to avoid currency limitation in their country). So it's their money, but transferred by their friends.
From my understanding, for Line 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", I should check "YES". Is this correct?
2nd question, do I need to provide anything to explain my "YES"? In the instruction it only says
"If you answered “Yes” to the question on line 56 and the ultimate donor on whose behalf the reporting donor is acting is a foreign corporation or foreign partnership, attach an explanation including the ultimate foreign donor's name; address; TIN, if any; and status as a corporation or partnership." My parents' friends sent money just as individuals. It wasn't a corporation or partnership. So do I just not explain anything?
Thank you so much in advance for reading my message and providing answers.
