OK so i ve read that a gift from a foreign country resident exceeds 100k, then i must file 3520 form. So ok, lets say that i recieved 200k from my friend or something, then i file that form, and then what??? meaning is it going to be taxable? will irs take some of that? or its just a simple "letting you know that i got money as a gift" kind of thing?

everywhere i've read just says that i have to file that form, but does not say what next.