It depends. Step 3 of the instructions are found in this link. Select the link and look under the heading in Who Must File.
A Trust account is an account that keeps track of client funds given in trust and a firm's operating funds. This ensures that funds are kept safe and managed with full transparency. So a Foreign Trust is simply a trust account within a firm that happens to be in a foreign country. The sale you made does not need to be reported in your 3520 unless the transfer was made in exchange for an obligation or you hold a qualified obligation from that trust that is currently outstanding. A transfer made on behalf of a buyer of your property is not a reporting requirement in this case.
As far as reporting the inheritance, was this placed in a foreign trust and if so, are you certain of this? If so then, this will be reported in Part 111 in the 3520. The reporting of the foreign trust can be complex and you may consider seeking professional guidance to assist you with this section.
Form 3520 pdf
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