IRS Asks for Input on Foreign Trust Reporting Forms
Published Date: 7/13/2026
Notice
Summary
The IRS wants your thoughts on Forms 3520 and 3520-A, which people dealing with foreign trusts need to file. They’re checking if these forms are clear and not too much work, and they want comments by September 11, 2026. This helps keep the forms easy to use and fair, with no surprise costs or headaches.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Who Must File Form 3520
If you are a U.S. person who receives a large gift or bequest from a foreign person, have certain transactions with a foreign trust, or have ownership of a foreign trust under Internal Revenue Code sections 671 through 679, you must file IRS Form 3520 (Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts). This notice confirms that Form 3520 applies to those U.S. persons.
Foreign Trusts Must File Form 3520-A
A foreign trust that has at least one U.S. beneficiary must file IRS Form 3520-A (Annual Information Return of Foreign Trust with a U.S. Owner). The form reports information about the foreign trust, its U.S. beneficiaries, and any U.S. person treated as an owner under the grantor trust rules.
Estimated Paperwork Time Burden
The IRS estimates the collection will generate 40 responses, with an estimated time per response of 51 hours and 56 minutes, for a total annual burden of 2,078 hours. The affected public is listed as individuals or households.
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