What tax files do I need for form 3520?

[adobeee123]

I am a U.S. citizen married (filling jointly) in California and received a foreign gift in the 2016 tax year. My CPA says he needs my W-2 and paystubs, but I don't think that is true. I believe the form 3520 is purely an informational form only and not part of a tax return.

Can anyone confirm this statement? Also, what are the best ways to avoid getting taxed on this (this was a gift)?

[DoninGA]

The IRS Form 3520 is an informational form but it is required to be submitted to the IRS before the due date of your 2016 tax return, April 18, 2017 or the extension due date.

If you received a gift from a foreign individual greater than $100,000 then that needs to be reported to the IRS using Form 3520.  

IRS Form 3520 - https://www.irs.gov/pub/irs-pdf/f3520.pdf

IRS Form 3520 instructions - https://www.irs.gov/pub/irs-pdf/i3520.pdf

You must sign and date the Form 3520.  It is not to be filed with your personal tax return, Form 1040.

Send Form 3520 to the Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409.

[adobeee123]

Thanks. Do I need to send my CPA my W-2 and paystubs for the Form 3520 as well? Not sure if that was an unnecessary request.

[DoninGA]

In regards to the Form 3520, I do not see anything on the form that would require you to supply a W-2 or paystubs.  Unless you are having the CPA also complete your personal tax return, then they of course would need those forms.

[rbadinotti]

Hello,

the 3520 form is requesting the service center of where my income taxes where filled, but the issue is that I am still in college, thus I receive no income.

Do i leave box 1j empty if this is the case?

Please let me know.

Thank you

[feiwenw66563]

i am an US citizen and work in Germany. I have a distributed pension account in 2020 from my foreign employer . Do I need to file form 3520?