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No. You only need to report in the year you received the inheritance.
Was this specific question answered. I am not clear on the screen below regarding number of copies to be filed.
In my situation, my parents in not US residents, and due to demise of my father, I will become joint owners with my mother on some of their foreign accounts, but as part of his will, some of these funds will eventually become mine as inheritance. We have to work through this as we are discovering all the assets he had, since my mother was not fully aware.
Did anyone have any responses to the question. Would it be one 3520 per account ?
It depends. Form 3520 is used to report certain foreign trusts, gifts, or inheritance. The number of forms you need to file depends on the situation, not the number of accounts. Here’s a general breakdown:
In your case, it sounds like you will be able to report this one 3520 form because it doesn't sound like unrelated events, transactions, or multiple individuals.
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