I had applied for a loan from a foreign bank in India, and the loan amount was credited to my foreign bank account in India. While filling out TurboTax form, there's a section called: "Tell us about any Foreign Trust" so is a Foreign bank considered as a foreign trust, or is a trust something other than a bank? If I select "I received distribution or loan from a foreign trust" option in the above section, it asks to file form 3520 which I do not think is required for me, and I may only need to report this amount on FBAR and Form 8938, but want to clarify this.
