Hey guys,
I received over 100k dollars from my dad back home in Bangladesh. They're all for my college expenses, including tuition, dorm, food, etc. I hear you have to fill out the form 3520 if your gift from a person abroad is more than 100k, but the form says US person. I'm not a citizen, nor resident of the United States. I'm a foreigner studying here on a visa, so I don't think I am a US person. But just to make sure, because I do not want to pay any penalties, will I still have to fill in form 3520?
Thanks in advance!
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No, a non US person is not required to fill out this form. The form is also not required for funds that are paid directly to schools for tuition.
Should you become a tax resident at a later date, you would then be required to complete the form.
No, a non US person is not required to fill out this form. The form is also not required for funds that are paid directly to schools for tuition.
Should you become a tax resident at a later date, you would then be required to complete the form.
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