A 3520 must be filled out if you receive gifts of more than $100,000 from a nonresident alien individual or a foreign estate (including foreign persons related to that nonresident alien individual or foreign estate) that you treated as gifts or bequests. In this case, the foreign estate is usually placed in a trust so that may be why the term was mentioned in the first place.
In this case, you do have a reporting requirement because you received this from a nonresident alien(s), which happen to be your parents.
@vrflash
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