Do I need to pay tax with foreign wire transfer received from Uncle (non-US residents/citizens) living in another country?

[Ram sis singh]

I got 80k international wire transfer

and

80k each in my minor kids account under me 

will that be counted towards my taxes (fill that in one 3520 form with all the wire transfer )

or i have to file three 3520 forms one for each person .

as the amoutn is less than 100k is it required to file 3520 from or not required.?

[MarilynG1]

U.S. persons (and executors of estates of U.S. decedents) file Form 3520 to report:

• Certain transactions with foreign trusts.
• Ownership of foreign trusts under the rules of sections Internal Revenue Code 671 through 679.
• Receipt of certain large gifts or bequests from certain foreign persons.

You can report more than one gift on Form 3520, Part IV, Line 54.

Click here for detailed Instructions for Form 3520. 

[pk]

@Ram sis singh ,   form 3520 is required to be filed individually for each recipient of gifts equal or more than US$100,000.  However, and absent any other  facts that you have not disclosed on your ;post , because the minors are probably your dependent,  I would suggest  recognizing the whole  ( total gift amount )  by filing a form 3520 by yourself or you and your spouse  --- I say this because  clearly  ( or may be interpreted as ) you are receiving the total amount for your use  but breaking up the donation/ gift into chunks  just under the  threshold for reporting.     That is my opinion and undoubtedly some will disagree.

pk