You do not have to report or pay U.S. tax on inheritances, whether from U.S. or foreign sources. For this reason, any foreign tax paid on the inheritance ("estate tax"), is not deductible or creditable on your U.S. tax return.
You do have to report any income generated by the inheritance proceeds, i.e. dividends or interest. Foreign tax on that income is deductible or creditable on your U.S. tax return.
Finally, the foreign account in which the inheritance is kept may be subject to U.S. reporting requirements.
See Report
of Foreign Bank and Financial Accounts (FBAR)
