Inheriting Cash from Overseas

[madcapsel]

Hi,

My mother, who was not a US citizen nor a green card holder, passed away in a foreign land last year. A few years prior to that when my father passed away, I posted a question on this forum about receiving inheritance from a foreign country. The answer I got was all I'm required to do was to fill out tax form 3520 "Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts", if the amount exceeded $100,000. I just want to make sure nothing has changed in terms of law from a few years ago. 

[DoninGA · Accepted solution]

The tax code for reporting gifts or inheritances from a foreign person in an amount greater than $100,000 has not changed.

The amount received by a US person from a nonresident alien has to be reported on a Form 3520 if the amount received is greater than $100,000.

[madcapsel]

Thank you for making that clear. I understand Turbotax does not file 3520. Every year, I use Turbotax to efile form 1040. So, is it safe to say that I efile 1040 as usual and mail in the form 3520 separately by myself? 

[DoninGA]

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@madcapsel wrote:

Thank you for making that clear. I understand Turbotax does not file 3520. Every year, I use Turbotax to efile form 1040. So, is it safe to say that I e-file 1040 as usual and mail in the form 3520 separately by myself? 

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Yes, you are correct.  E-file the form 1040 and mail the Form 3520 separately to the following address -

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

IRS website for the Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts - https://www.irs.gov/forms-pubs/about-form-3520