pk
Level 15
Level 15

Deductions & credits

@Shogun159 , sorry for the typo -- I did mean form 3520  (   Form 3520 (Rev. December 2023) ).

 

The reason you have to file is because you are receiving a gift from  a foreign person/ trust etc.   It is not connected with where the  gift is sitting  and/or  that the monies were transferred from your own  foreign account  to your own domestic account.  You are just declaring where the monies came from.

 You also have to file FBAR and possibly  FATCA forms because  you have a foreign  financial account  ( that you own or have signature authority over ).

 

Does this help ?

 

Is there more I can do for you ?