Form 3520

[N_M9]

Hello! I received $100,000 as a gift from a foreign person. Before they wired the $100,000, they wired $100 to check all was in order. This puts me at >$100,000 for the taxable year. I'm assuming I ought to file the Form 3520. Am I right in thinking this? Also, can this form be filed electronically?

[DoninGA]

Since you received over $100,000 from a foreign person you are required to file a Form 3520.  It form has the same due date as your tax return.  The form can only be printed and mailed to the IRS, the address on where to mail is in the Form 3520 instructions.

Go to this IRS website for the Form 3530 - https://www.irs.gov/forms-pubs/about-form-3520

[DaveF1006]

Yes, it is highly recommended you file form 3520. This is not a form that Turbo Tax supports but you can download a copy of that form here. This will need to be prepared separately and mailed.

Send Form 3520 to the following address.

Internal Revenue Service Center
P.O. Box 409101
Ogden, UT 84409

@nira