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Level 2
posted Jan 4, 2026 2:27:52 PM

Form 3520 Guidance

I have received gift from a relative in Singapore. I understand I have to file Form 3520. On line 2a of the form it asks: Name of foreign trust (if applicable). The gift is from a person not a trust. What do I do in that case? Do I leave it blank or enter the name of the relative? The IRS instructions are not helpful: https://www.irs.gov/instructions/i3520#en_US_202512_publink1000190366

 

What should I do with rest of the lines where it asks for address?

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1 Replies
Employee Tax Expert
Jan 12, 2026 1:35:17 PM

It depends. Since your gift is from a person, you should leave Line 2a blank as this only is applicable if you received the gift from a trust. Here how to enter the information correctly on Form 3520.

 

  1. For part 1 of the form, Complete lines 1a through 1k with your own information (name, address, social security number etc.).
  2. Go to Part 1V, go to line 54 and check the "yes" box
  3. Line 54 (Columns a–c): List the date of the gift, a brief description (e.g., "Cash gift"), and the Fair Market Value, if the gift was property in lieu of cash.

It is not necessary to provide the name of the person who gave you the gift. You only need to provide names and addresses if the gift came from a foreign corporation or partnership (Line 55).

 

Instructions for Form 3520