You should file Form 3520 if the total received in all accounts (US and foreign) in one calendar year exceeded $100,000. For gifts or inheritances that don't involve foreign trusts, you are just filling out the top of page 1 (through line 1k), and then on the last page, Part IV question 54.
It's always better to disclose if there is any doubt, as the penalty for not filing this form or filing it late are pretty steep.
Be sure to sign and date the form before mailing.
@jakala
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
