- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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 ?
‎January 13, 2025
8:25 AM