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Form 3520: Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
IRS Form 3520 is the Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, filed by U.S. persons to report transactions with foreign trusts; it is due by the 15th day of the 4th month following the end of the taxpayer’s tax year.
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IRS Form 3520 - Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
IRS Form 3520 is the Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, filed by U.S. persons to report transactions with foreign trusts; it is due by the 15th day of the 4th month following the end of the taxpayer’s tax year.
Risk Radar
Scan points- 1Failing to file by the deadline extends tax assessment time by 3 years (section 6501(c)(8)).
- 2Failing to file a separate Form 3520 for every single foreign trust involved.
- 3Not completing Part II even if there were no transactions involving the trust during the tax year.
- 4Forgetting to provide information about the U.S. decedent on lines 4a through 4e (if applicable).
- 5Failing to include the Foreign Value of Trust assets at FMV as of the end of the tax year (line 9/23).
Plain English
This form lets taxpayers tell the IRS about important financial activities involving foreign trusts or when they receive large gifts from people outside the United States. It ensures the IRS tracks ownership and major transactions related to these international assets. Filing this form keeps the government aware of your relationship with foreign entities.
Submission Date
- Filing date: 2025-11-24 22:10:20
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when you are a U.S. person (or estate executor) who, during the current tax year, received a distribution from a foreign trust; or if you are a U.S. owner/beneficiary and received a loan from the foreign trust; or if the foreign trust holds an outstanding qualified obligation for you.
- Do not use this form when you have no reportable events occurring during the current tax year, unless you fit one of the criteria listed above.
- Check Form 3520-A instead when filing on behalf of a foreign trust (though it may be attached as a substitute to your Form 3520).
Form selector
Use this form or another form?
Filing for a Foreign Trust
Required if the reporting is from the perspective of the foreign trust itself.
✓ Check the 'Substitute Form 3520-A' box on your attached Form 3520-A.
Reporting Inconsistent Treatment
Used when your tax return items differ from how the foreign trust reported them, unless you report the inconsistency separately.
✓ Ensure you file this notice if there is a discrepancy in treatment.
Receiving Gifts from Covered Expatriates
Required if you receive a distribution from a foreign trust that is attributable to a gift or bequest from a covered expatriate.
✓ This form complements Form 3520 when dealing with gifts from covered expatriates.
Deadline or filing window
The primary due date is the 15th day of the 4th month following the end of the taxpayer’s tax year. If a complete Form 3520 is not filed by this deadline, the time for assessment does not expire before 3 years after reporting the required information (section 6501(c)(8)).
Checklist
What you need before filling it out
Due Date (U.S. Person)
The 15th day of the 4th month following the end of the taxpayer’s tax year · Instructions p.1
Due Date (Foreign Trust)
The 15th day of the 3rd month after the end of the foreign trust’s tax year · Instructions p.1
Penalty Trigger
Timely non-filing or incomplete/incorrect information on Form 3520 · Section 6677 (Instructions p.1)
Filer Category
U.S. person, executor of a U.S. estate, or foreign trust filing via Form 3520-A · Instructions p.1 / Form p.1
Reportable Event Trigger
Transferring property to a related foreign trust in exchange for an obligation, or holding a qualified obligation from that trust · Instructions p.1 (Part I)
Before you submit
- 1Complete all applicable identifying information requested on page 1 of Form 3520.
- 2Ensure Part II of Form 3520 is completed based on your filing status (U.S. person/owner/beneficiary).
- 3Complete all applicable identifying information and relevant portions of Part III of Form 3520.
- 4If filing a substitute Form 3520-A, confirm the 'Substitute Form 3520-A' checkbox is checked on that document.
- 5Verify that your tax return treatment for items is consistent with any attached Form 3520-A unless you are reporting an inconsistency to the IRS.
- 6Sign the return in the space provided for the preparer’s signature.
- 7Provide a copy of the completed Form 3520 to the filer.
How to file this form
- 1Complete all applicable identifying information on page 1 and fill out Part II of IRS Form 3520.
- 2Complete all applicable identifying information and fill out Part III of IRS Form 3520.
- 3Sign the return in the space provided for the preparer’s signature, ensuring you retain a copy.
- 4Mail or electronically submit the completed Form 3520 (and any attached forms) by the required due date.
Known limitations
- 1Taxpayers living and working outside the United States have until the 15th day of the 6th month to file Form 3520.
- 2Form 3520-A is due by the 15th day of the 3rd month after the end of the foreign trust’s tax year, unless it is a substitute attached to Form 3520, in which case it is due on the same day as Form 3520.
- 3If an extension has been requested for Form 3520, box 1k must be checked and the form number of the tax return for which the extension applies must be included.
- 4A penalty under Section 6677 applies if Form 3520 is not timely filed or if the information reported is incomplete or incorrect.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->The current edition is based on a revision date of December 2025, and users should use these instructions for tax year 2025 and subsequent years until a superseding revision is issued; the source directs users to IRS.gov/Form3520 for the latest information.
What changed or needs a fresh check
- Edition date — confirm the instructions are for tax year 2025 and subsequent years.
- Form Number — confirm the title matches 'Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts'.
- Mailing address — Not stated in the official source (must be verified on IRS.gov).
- Signature — ensure the preparer signs in the space provided for the preparer’s signature.
- Filer Status — confirm you are filing as a U.S. person, executor of a U.S. estate, or reporting via Form 3520-A.
Quick Facts
Downloads
After you file
- 1Provide a copy of the completed Form 3520 to the filer.
- 2If filing an amended return, check the “Amended return” box on Form 3520.
- 3If reporting transactions with a foreign trust that terminated within the tax year, the filed Form 3520 is considered a final return for that year.
- 4If items are treated differently than how the foreign trust treated them, file Form 8082 (Notice of Inconsistent Treatment or Administrative Adjustment Request) unless otherwise reported to the IRS.
- 5Keep records related to the filing because the time for assessment will not expire before 3 years after the date the required information is reported if a complete Form 3520 is not filed by the due date.
Sources
- SRCInstructions p.1 — Form 3520 is due by the 15th day of the 4th month following the end of the taxpayer’s tax year.
- SRCInstructions p.1 — Taxpayers living and working outside the United States have until the 15th day of the 6th month to file Form 3520.
- SRCInstructions p.1 — Form 3520-A is due by the 15th day of the 3rd month after the end of the foreign trust’s tax year, unless it is a substitute attached to Form 3520, which is due on the same day as Form 3520.
- SRCInstructions p.7 — A penalty applies if Form 3520 is not timely filed or if the information is incomplete or incorrect (Section 6677).
- SRCInstructions p.1 — If a complete Form 3520 is not filed by the due date, assessment will not expire before 3 years after the required information is reported (Section 6501(c)(8)).
- SRCInstructions p.2 — Joint filing with spouse is allowed if both are transferors, grantors, or beneficiaries of the same foreign trust.
- SRCInstructions p.2 — You may be required to file FinCEN Form 114 (FBAR) in addition to Form 3520.
- SRCInstructions p.8 — If the trust terminated within the tax year, the filed Form 3520 is a final return for that year.
Common confusion points
Should I file jointly with my spouse?
If both spouses are transferors, grantors, or beneficiaries of the same foreign trust and file a joint return, they may file a joint Form 3520.
→ Check the box on line 1i on page 1.
When is the deadline for filing if I live outside the U.S.?
The standard deadline is the 15th day of the 4th month following the end of the tax year, but those living and working abroad have until the 15th day of the 6th month.
→ Verify your residency status and check the appropriate box.
Do I need to file Form 3520-A separately?
Yes, unless it is a substitute attached to Form 3520; if so, it's due on the same date as Form 3520.
→ Confirm whether your trust requires a standalone Form 3520-A or if it is being submitted as a substitute.
What happens if my tax return items don't match the foreign trust’s?
File Form 8082 (Notice of Inconsistent Treatment or Administrative Adjustment Request) to report this inconsistency.
→ Ensure you are prepared to file Form 8082 if your treatment differs from the foreign trust's.
When does the penalty for late/incorrect filing expire?
The time for assessment will not expire before the date that is 3 years after the date on which the required information is reported.
→ Confirm the exact date of reporting to calculate the expiration window.
Do I need to check Item C if I file Form 8938?
Check item C only if you also file Form 8938 for the same tax year and include this Form 3520 in the total number reported on line 15 of Part IV of Form 8938.
→ Verify that both forms are filed together for the relevant tax year.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 8082 (This form notifies the IRS of inconsistent treatment between your tax return and the foreign trust's return.)
- FinCEN Form 114 (You may be required to file this FBAR in addition to Form 3520.)
Questions about IRS Form 3520
What is IRS Form 3520 used for?
This form lets taxpayers tell the IRS about important financial activities involving foreign trusts or when they receive large gifts from people outside the United States. It ensures the IRS tracks ownership and major transactions related to these international assets. Filing this form keeps the government aware of your relationship with foreign entities.
Who must file IRS Form 3520?
U.S. persons must file Form 3520 if they are responsible for reporting a reportable event, transferred property to a related foreign trust, or are treated as the owner of any part of a foreign trust's assets during the tax year.
What information does IRS Form 3520 require?
The form collects identifying information on page 1; Part I details transfers by U.S. Persons to a Foreign Trust During the Current Tax Year, and Part III covers Distributions to a U.S. Person From a Foreign Trust During the Current Tax Year.
When is IRS Form 3520 due?
Form 3520 is due by the 15th day of the 4th month following the end of the taxpayer’s tax year. A separate Form 3520 must be filed for transactions with each foreign trust.
Where do I file IRS Form 3520?
The instructions do not specify a single service center, but general filing mechanics require submission to the IRS. The form can also be submitted via electronic means.
How do I complete IRS Form 3520?
First, complete the identifying information on page 1. Then, fill out the relevant parts based on your transactions—Part I for transfers to a trust or Part II if you own the assets. Finally, ensure all required sections are complete before submitting.
What happens if IRS Form 3520 is filed incorrectly?
If a complete Form 3520 is not filed by the due date, the time for assessment of any tax imposed will not expire before the date that is 3 years after the date on which the required information is reported (section 6501(c)(8)).
Should I file jointly with my spouse?
If both spouses are transferors, grantors, or beneficiaries of the same foreign trust and file a joint return, they may file a joint Form 3520. Check the box on line 1i on page 1.
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