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International Reporting

Foreign Gift and Inheritance Reporting

A large gift or inheritance from a foreign person can trigger a Form 3520 filing, even when no tax is owed. A licensed CPA helps you determine whether reporting is required and file it correctly.

Tell Us What You Need Help With
Briefly describe what you received and from whom so we can determine the appropriate next step.

When Form 3520 May Apply

Form 3520 is an information return used to report certain gifts and inheritances from foreign persons and distributions from foreign trusts. It is separate from your income tax return, and in many cases no tax is due, but the filing itself is still required.

Because the rules depend on who gave the gift and how much was received, the first step is confirming whether a reporting requirement exists for your situation.

Situations We See

  • You received a large gift from a non-U.S. individual
  • You inherited money or property from a foreign person or estate
  • You received a distribution from a foreign trust
  • You are unsure whether the amount you received crosses a reporting threshold
  • The funds came from a foreign business or entity you are connected to
  • You are not sure whether the giver is treated as an individual or a trust

Why Confirming the Requirement Matters

Form 3520 has its own filing deadlines, and late or missed information returns can carry penalties that are unrelated to whether any tax was owed. Confirming the requirement early, and filing on time, is the most reliable way to stay in good standing.

We do not promise any particular penalty outcome. We help you understand the requirement, prepare an accurate filing, and identify the appropriate next step.

What Jason Brett CPA Does

  1. Review what you received and from whom to determine whether a Form 3520 filing is required.
  2. Clarify how the giver is classified, including individual, estate, trust, or entity, since the rules differ.
  3. Identify the correct thresholds, deadlines, and any related filings that apply to your facts.
  4. Provide a written scope and price before preparation begins.
  5. Prepare and file the return, and explain what to keep for your records.

What We May Need From You

Gathering the following helps us confirm the requirement quickly. Missing items can often be reconstructed or requested.

  • A summary of what you received, from whom, and approximately when
  • The approximate amount, and the currency and account it came from
  • What you know about the giver, including whether it was a person, estate, trust, or entity
  • Any bank records or transfer confirmations you have
  • Your prior-year returns, if the gift affects a year already filed

What May Require a Separate Scope

The introductory call confirms fit and the appropriate next step. Situations involving foreign trusts, multiple years, or unclear donor classification may require an initial assessment before a final scope and fee can be confirmed.

Distributions from foreign trusts, prior-year catch-up filings, and matters that overlap with other international reporting are examples of work that may be quoted as a separate step. You receive a written scope and price before that work begins.

Not Sure Whether You Need to File?

Tell us what you received and from whom. We will determine whether it fits our services and the appropriate next step.

Tell Us What You Need Help With

Related Help

International tax and FBAR
Foreign corporation reporting (Form 5471)
Request an international tax consultation
Flat-fee pricing

Common Questions

Do I owe tax on a foreign gift?

Often no. Form 3520 is generally an information return, and a gift from a foreign individual is frequently not taxable income to you. The filing requirement can still apply even when no tax is due, which is why confirming the rules matters.

How do I know if my gift is large enough to report?

The thresholds depend on the source, including whether the giver is a foreign individual or a foreign entity or trust. We review your specific facts to determine whether a filing is required.

I already missed the deadline. Can you still help?

Yes. Late and prior-year filings are common. We help you understand the situation and prepare an accurate filing. We do not promise any specific penalty result.

What does this cost?

Straightforward filings are quoted as a flat fee. Situations involving foreign trusts, multiple years, or unclear classification may require an initial assessment first. You receive a written scope and price before work begins.