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Level 15
Level 15

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@oboero2 ,  thank you for your response 

Let me Clarify  :

 

SAR is raised by your US bank on any foreign  transfers  ( in or out )  and dealt with by the bank.  You do not have any action here

FBAR regs come into play for any Finacial accounts that you own and/or have signature authority.  Thus if you have a Foreign account or by virtue of inheritance , you become the owner/signatory of your Parent's  bank account, you will need to file a form 114  ( FBAR at FinCen.gov -- it is only on-line filing , due date same as return filing date )

Form 3520 is filed  directly to IRS  ( download the form from www.irs.gov and it shows the address where it should be mailed ) -- not part of your return . Any time you receive =>US100,000  from a Foreign person / Estate / Trust, you must file this form.  No tax implication.

Form 8938 -- FATCA form covers all other  foreign assets ( liquid and semi-liquid ) , except for real=estate and needs to filed along with your return.  Again it generally has NO tax implications.

I hope this  answers  your query.  In case you have more questions on this please feel welcome to add to this thread and I will circle back