pk
Level 15
Level 15
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Deductions & credits

If the monies  never rested in a foreign account  over which  you had signature  or ownership authority, then the monies were not yours and therefore not subject to  FBAR (  form 114 on line  only at  FinCen ) or FATCA ( form 8938 along with your return  ) regulations.

However, because  you are a US person ( citizen / GreenCard/ Resident for Tax Purposes ) and the gift/ inheritance is from a foreign person , you will have to file form 3520.   TurboTax  does not support this form and so you have download the form www.irs.gov and fill it out, sign, date and mail to the address shown on the form instructions.

This is not a tax event  but not filing the form when required to can attract  onerous penalties. @mouselovesmose 

 

Is there more I can do for you ? 

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