@danilol wrote:
@DoninGA How about the amount is $95000? shall I have to report?
How do this threshold of $100000 count? Is that for one person or that is the total amount from different person?
How about it is from mother and father?
All person here are non -usa taxpayer.
Thanks
If you received $95,000 from a foreign person that would not have to be reported on a Form 3520.
You can receive $100,000 or less from your father and $100,000 or less from your mother you would not have to report those monies received on a Form 3520.
The requirement being it must be from an Individual Foreign person in an amount of $100,000 or less. More than $100,000 from one individual it must be reported on a 3520.
