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Old 01-24-2018, 11:25 PM
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How to file Form 3520

On Form 3520 , is it necessary to check the "Initial return" box for Item A, if on line B the "Individual" box is checked as well as the 4th box "You are a US person, who [...] received certain gifts or bequests from a foreign person"? Instructions (page 6) mention that check boxes of Item A pertain to filing for a foreign trust. Is this correct? Also, once the form has been submitted to the IRS, do they confirm this with a receipt/letter?



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Old 01-25-2018, 12:29 AM
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On Form 3520 , is it necessary to check the "Initial return" box for Item A, if on line B the "Individual" box is checked as well as the 4th box "You are a US person, who [...] received certain gifts or bequests from a foreign person"? =======>>I guess so; aslongas it is your initial return UNLESS you annually filed Form 3520 and completed Part II because you were the owner of the trust for U.S. income tax purposes and the trust has terminated within the tax year,

Instructions (page 6) mention that check boxes of Item A pertain to filing for a foreign trust. Is this correct?======>>Correct; as said, aslongas it is the initial return you are filing concerning the foreign trust identified, then, you need to check the ?initial return? box.

Also, once the form has been submitted to the IRS, do they confirm this with a receipt/letter?==========>>In my opinion, it depends; if they want?em then they may request them from you



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