SusanY1
Expert Alumni

Get your taxes done using TurboTax

Yes, a US person would declare a cash gift from a foreign person even if that money is received in a foreign account.  Form 3520 reports gifts in a calendar year that exceed $100,000.  Gifts under this amount do not require a report.  As indicated above, no tax is due when this form is filed as it is an information filing only.

@Polaris23 

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