Form 3520: Foreign Trust and Receipt of Certain Foreign Gifts

Foreign trusts and foreign gifts can trigger some of the IRS’s most complex—and heavily penalized—reporting rules. This webinar breaks down the when, why, and how of Form 3520 compliance so you can confidently identify filing obligations and avoid costly mistakes.

We’ll walk through the key distinctions between domestic and foreign trusts under IRC §7701, including how the Court Test and Control Test determine trust classification. You’ll also learn when foreign gifts and inheritances must be reported, how reporting thresholds apply, and how withholding and income tax rules impact foreign trust transactions.

The program concludes with a practical, form-focused discussion of Form 3520 and Form 3520-A, covering filing responsibilities for grantors, trustees, and beneficiaries under IRC §§671–679, along with deadlines, extension options, and penalty exposure for noncompliance.

Whether you’re advising clients with international connections or encountering Form 3520 issues for the first time, this session will give you the clarity and confidence you need.

2 IRS CE/2 NASBA CPE*

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*Self-Study recording not available for NASBA CPE credit.

IRS Program #: 7Q3WU-T-00850-25
CTEC Course #: 6248-CE-00213