One question related to file Form 3520

[ZhaoIvy1220]

My husband is a Non-resident Alien, but we have a joint bank account in the US.  I moved US$100000 from this joint bank account to my individual bank account in 2023, do I need submit Form 3520?

[KrisD15]

No, that would not require Form 3520. 

According to the IRS:

"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."

Your transaction does not meet any of these.

[ZhaoIvy1220]

Got it. Thanks a lot!