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 Form 3520 2013

2013-2025 Form

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Instructions and help about Form 3520

good afternoon this is Sean Golding with Golding and Golding here to provide a bit of an update to a previous article and presentation we did back in 2019 about five important facts you need to know about for 3520 for 3520 is one of those sneaky International reporting forms where oftentimes taxpayers do not have any tax implication because it's primarily used when a person receives a gift from a foreign person but the IRS does like to penalize it so let's go through the basics of five important things you need to know first who needs to file form 3520 3520 is filed by your typical uh cast of characters your US citizens your lawful permanent residents foreign Nationals who meet the substantial presence T we're talking just about individuals lawful permanent residents who live abroad in a treaty country may qualify to make a treaty election to be treated as a foreign person for tax purposes if that is the case then they may take the position that they're

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