topic Re: Form 3520 Foreign Inheritance in State tax filing

Form 3520 Foreign Inheritance

RMI — Wed, 27 Aug 2025 20:08:21 GMT

My wife and I both inherited cash from foreign individuals (different people). I received $90k and my wife received $60k. Individually we are below the $100k reporting threshold. Do we still need to file Form 3520? Thanks.

Re: Form 3520 Foreign Inheritance

DoninGA — Wed, 27 Aug 2025 21:05:48 GMT

Since you did not individually receive over $100,000 from a foreign individual, a Form 3520 is not required for either of you.

Re: Form 3520 Foreign Inheritance

pk — Thu, 28 Aug 2025 20:03:40 GMT

@RMI , agreeing with my colleague @DoninGA , that you probably do not need to file a form 3520, I just want to make sure that neither of the donors are related directly or indirectly to for purposes of threshold computation. Section 267 and 707 (b) are relevant here and generally take a very broad view of "related" person. This is especially of import =since this is not a tax event i.e. there is no tax effect in recognizing/filing a form 3520.

IMHO

Re: Form 3520 Foreign Inheritance

RMI — Fri, 29 Aug 2025 15:50:34 GMT

Thank you. The persons are not related at all.