Form 3520 Annual Return To Report Transactions With Foreign Trusts And Receipt {3520} | Pdf Fpdf Docx | Official Federal Forms

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Form 3520 Annual Return To Report Transactions With Foreign Trusts And Receipt {3520} | Pdf Fpdf Docx | Official Federal Forms

Form 3520 Annual Return To Report Transactions With Foreign Trusts And Receipt {3520}

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Form 3520 Department of the Treasury Internal Revenue Service Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts Go to www.irs.gov/Form3520 for instructions and the latest information. OMB No. 1545-0159 2018 Note: All information must be in English. Show all amounts in U.S. dollars. File a separate Form 3520 for each foreign trust. For calendar year 2018, or tax year beginning , 2018, ending , 20 A Check appropriate boxes: Initial return Initial return (extension filed) Final return Amended return B Check box that applies to person filing return: Individual Partnership Corporation Trust Executor C Check if any excepted specified foreign financial assets are reported on this form (see instructions) .........Check all applicable boxes. (a) You are a U.S. transferor who, directly or indirectly, transferred money or other property during the current tax year to a foreign trust, (b) You held an outstanding obligation of a related foreign trust (or a person related to the trust) issued during the current tax year, that you reported as a 223qualified obligation224 (defined in the instructions) during the current tax year, or (c) You are the executor of the estate of a U.S. decedent and (1) the decedent made a transfer to a foreign trust by reason of death, (2) the decedent was treated as the owner of any portion of a foreign trust immediately prior to death, or (3) the decedent222s estate included any portion of the assets of a foreign trust. Complete all applicable identifying information requested below and Part I of the form and see the instructions for Part I. You are a U.S. owner of all or any portion of a foreign trust at any time during the tax year. Complete all applicable identifying information requested below and Part II of the form and see the instructions for Part II. You may also need to complete Part III. See the instructions for Part III. (a) You are a U.S. person (including a U.S. owner) who, during the current tax year, received a distribution from a foreign trust, or (b) You are a U.S. person who is a U.S. owner or beneficiary of a foreign trust and such foreign trust (1) made a loan of cash or marketable securities, directly or indirectly, to you or a U.S. person related to you during the current tax year, or (2) provided you or a U.S. person related to you with the uncompensated use of trust property. Complete all applicable identifying information requested below and Part III of the form and see the instructions for Part III. You are a U.S. person who, during the current tax year, received certain gifts or bequests from a foreign person. Complete all applicable identifying information requested below and Part IV of the form and see the instructions for Part IV. 1a Name of U.S. person(s) with respect to whom this Form 3520 is being filed (see instructions) b Identification number c Number, street, and room or suite no. (if a P.O. box, see instructions) d Spouse222s identification number e City or town f State or province g ZIP or foreign postal code h Countryi Check the box if you are married and filing a joint 2018 income tax return, and you are filing a joint Form 3520 with your spouse. j Service center where U.S. person222s tax return is filed................. k If an extension was requested for the tax return, check this box and enter the form number of the tax return to be filed. 2a Name of foreign trust (if applicable) b(1) Employer identification number (if any) b(2) Reference ID number (see instructions) c Number, street, and room or suite no. (if a P.O. box, see instructions) d City or town e State or province f ZIP or foreign postal code g Country3 Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all relevant trust information?................................ Yes NoIf 223Yes,224 complete lines 3a through 3g. If 223No,224 be sure to complete Part I, lines 15 through 18. 3a Name of U.S. agent b Identification number (if any) c Number, street, and room or suite no. (if a P.O. box, see instructions) d City or town e State or province f ZIP or postal code g Country 4a Name of U.S. decedent (see instr.) b Address c TIN of decedent d Date of death e EIN of estatefCheck applicable box. U.S. decedent made transfer to a foreign trust by reason of death. U.S. decedent treated as owner of foreign trust immediately prior to death. Assets of foreign trust were included in estate of U.S. decedent. For Privacy Act and Paperwork Reduction Act Notice, see instructions. Cat. No. 19594V Form 3520 (2018) American LegalNet, Inc. www.FormsWorkFlow.com Form 3520 (2018) Page 2 Part I Transfers by U.S. Persons to a Foreign Trust During the Current Tax Year (see instructions) 5a Name of trust creator b Address c Identification number (if any) 6a Country code of country where trust was created b Country code of country whose law governs the trust c Date trust was created7 a Will any person (other than the U.S. transferor or the foreign trust) be treated as the owner of the transferred assets after the transfer? ................................ Yes Nob (i) Name of other foreign trust owners, if any (ii) Address (iii) Country of residence (iv) Identification number, if any (v) Relevant Code section 8Was the transfer a completed gift or bequest? If 223Yes,224 see instructions............... Yes No9aNow or at any time in the future, can any part of the income or corpus of the trust benefit any U.S. beneficiary?... Yes NobIf 223No,224 could the trust be revised or amended to benefit a U.S. beneficiary?.............. Yes No10Will you continue to be treated as the owner of the transferred asset(s) after the transfer?.......... Yes No Schedule A227Obligations of a Related Trust (see instructions)11 a During the current tax year, did you transfer property (including cash) to a related foreign trust in exchange for an obligation of the trust or an obligation of a person related to the trust (see instructions)?.......... Yes NoIf 223Yes,224 complete the rest of Schedule A, as applicable. If 223No,224 go to Schedule B.bWere any of the obligations you received (with respect to a transfer described in line 11a above) qualified obligations?. Yes NoIf 223Yes,224 complete the rest of Schedule A and attach a copy of each loan document entered into with respect to each qualified obligation reported on line 11(b). If these documents have been attached to a Form 3520 filed within the previous 3 years, attach only relevant updates.If 223No,224 go to Schedule B. (i) Date of transfer giving rise to obligation (ii) Maximum term (iii) Yield to maturity (iv) FMV of obligation 12 With respect to each qualified obligation you reported on line 11b: Do you agree to extend the period of assessment of any income or transfer tax attributable to the transfer, and any consequential income tax changes for each year that the obligation is outstanding, to a date 3 years after the maturity date of the obligation?........... Yes NoNote: You have the right to refuse to extend the period of limitations or limit this extension to a mutually agreed-upon issue(s) or mutually agreed-upon period of time. Generally, if you refuse to extend the period of limitations with respect to each qualified obligation you reported on line 11b, then such obligation is not a qualified obligation and you cannot check 223Yes224 to the question on line 11b. Schedule B227Gratuitous Transfers (see instructions)13 During the current tax year, did you make any transfers (directly or indirectly) to the trust and receive less than FMV, or no consideration at all, for the property transferred?.................... Yes NoIf 223Yes,224 complete columns (a) through (i) below and the rest of Schedule B, as applicable. When completing columns (a) through (i) with respect to each nonqualified obligation, enter 223-0-224 in column (h).If 223No,224 go to Schedule C. (a) Date of transfer (b) Description of property transferred (c) FMV of property transferred (d) U.S. adjusted basis of property transferred (e) Gain recognized at time of transfer, if any (f) Excess, if any, of column (c) over the sum of columns (d) and (e) (g) De

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