H1B Visa in USA - receiving money from cousin who lives in Dubai. Do I owe taxes to IRS ?

[hrpradeep13]

I am on H1B Visa in USA, I am trying to get some funds transferred from my cousin brother who lives in Dubai.

Amount < $100K

Do I owe taxes to IRS on this when filing my taxes ?

[Critter-3]

If you, as a US person, receive a gift of more than $100,000 from a foreign person, you are required to submit a Form 3520 to the IRS.  Form 3520 is an informational form only.  You do not report a gift received on your personal tax return, regardless of the amount received.

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

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

[hrpradeep13]

I am expecting funds to be less than $100,000, does that mean I do not need to report it to IRS ?