This article is designed to supplement the IRS' instructions to Form 3520. When and Where to File. In general, Form 3520 is due on April 15th following the end of such a person's tax year for income tax purposes, unless the United States person lives outside the United States. If a United States person lives outside the United States, the Form 3520 is due on the date that the taxpayer's income tax return is due, but it is filed separately with the IRS Service Center in Ogden, Utah [see Instructions for Form 3520, "When and Where to File;" see also Internal Revenue Manual (IRM) section 20.1.9.10.1(3) (07-08-2015)]. Many practitioners get this wrong and attach the Form 3520 The form 3520 instructions say that if you received an amount from a portion of a foreign trust of which you are treated as the owner, please complete lines 24 and 27 of this part. You are advised to file a separate Form 3520 for each foreign trust. If you do not fill IRS form 3520 on time or correctly, you risk being penalized $10,000. Assuming a U.S. agent is being appointed, the instructions to Form 3520 require that the agent be formally appointed via an Authorization of Agent (a form of which is included in the instructions to Form 3520-A, discussed below) and for a copy of the Authorization to be attached to the Form 3520 when it is filed. From Instructions for Form 3520 (2020): If you and your spouse are filing a joint income tax return for tax year 2020, and you are both transferors, grantors, or beneficiaries of the same foreign trust, then you may file a joint Form 3520. If you and your spouse are filing a joint Form 3520, check the box on line 1i on page 1. March 21, 2021 12 The due date on the Form 3520 filing instructions will default to the due date of the tax return. If the tax return has been extended or there is a date entered in Date 2021 return filed on Screen Pen, in the Payments folder, the due date on Form 3520 filing instructions will update accordingly. The law behind Form 3520-A could be a lot clearer. A lot clearer. Consider, the instructions for Form 3520-A fail to even mention the words "foreign pension" or "foreign retirement" anywhere. While Schedule B mentions Form 3520, but completely fails to mention Form 3520-A. So if have missed filing this form, you are not alone. File formats; View and/or save documents; Find: in: Find Help: Results: 1 - 102 of 102 files Show per page: 25 Instructions for Form 3520, Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts 2008 Form 3520: Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts Form 3520 Instructions. The filing of Form 3520 can be an intricate process, and it is typically recommended to speak with an international tax professional to assist in the proper filing of the form. The IRS suggests scheduling 12 hours to thoroughly read the instructions and file From 3520. Detailed instructions can be found on the IRS Form 3520 is not included with your tax return, it is mailed separately to the address in the instructions. The deadline is the same (April 15, 2022 for gifts made in 2021). *Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.* If the bank account is in your name only then only you would be reporting the total amount of the gift on a 3520. If a joint account for the gift and it is less than $100,000