IRS Form 3520-A "Annual Information Return of Foreign Trust With a U.S. Owner"

What Is Form 3520-A?

IRS Form 3520-A, Annual Information Return of Foreign Trust with a U.S. Owner, is a form filed with the Internal Revenue Service (IRS) annually by foreign trusts that have at least one U.S. owner in order to provide information about the trust, its beneficiaries from the United States, and any U.S. owner of a foreign trust. This form was issued by the IRS and last revised in 2019. The IRS provides Form 3520-A filing requirements and instructions, and a fillable version of the form may be found below.

What Is the Difference Between Form 3520 and 3520-A?

Both forms are related and their information must coincide. Unlike Form 3520‑A, Form 3520 is filed by United States persons - as opposed to foreign trusts - in order to report certain transactions with foreign trusts, ownership of foreign trusts, and receipts of large gifts or bequests from foreigners.

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IRS Form 3520-A Instructions

A foreign trust must file the IRS 3520-A Form by the 15th day of the 3rd month following the end of their tax year. It is required to provide the U.S. owners and U.S. beneficiaries with copies of pages 3 and 4 of Form 3520-A (Foreign Grantor Trust Owner Statement) and page 5 of the form (Foreign Grantor Trust Beneficiary Statement) by the 15th day of the 3rd month after the end of the foreign trust's tax year. The foreign trust may request an extension to file 3520-A Form (including the statements) by filing Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns.

The penalty that applies if the foreign trust does not file Form 3520-A on time or if it is incomplete or incorrect is equal to the greater of $10,000 or 5% of the gross value of the foreign trust's assets owned by a U.S. person under the grantor trust rules. Additional penalties will be imposed if the failure to comply continues for 90 days or more after the IRS serves notification about the noncompliance. U.S. owners are subject to an additional separate penalty to the mentioned above if they fail to file a Form 3520 timely, or if the form is incomplete or has incorrect information. Also, criminal penalties may apply for failure to timely file and for filing a counterfeit or a fraudulent return. However, if the taxpayer can show that the failure to comply was due to a reasonable cause, no penalties will be imposed.

How to File Form 3520-A?

If the return is filed by an individual or a fiduciary, the form must be signed by them. If the form is filed by a partnership, it must be signed by a general partner or company member. If the return is filed by a corporation, it must be signed by the president, vice president, chief accounting officer, treasurer, assistant treasurer, or any other corporate officer having authority to sign.

All foreign trusts with a U.S. owner are required to file Form 3520-A so that the U.S. owner satisfies its annual information reporting requirements. Also, the U.S. person who owns any portion of a foreign trust under the grantor trust rules must ensure that the foreign trust files Form 3520-A and furnishes the required statements to its U.S. owners and U.S. beneficiaries. If a foreign trust does not file Form 3520-A, the U.S. owner is required to complete and attach a substitute Form 3520-A.

Where to Mail Form 3520-A?

File your Form 3520-A, including all the required statements, with the Internal Revenue Service Center, PO Box 409101, Ogden, UT 84409.

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Download IRS Form 3520-A "Annual Information Return of Foreign Trust With a U.S. Owner"

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3520-A
Annual Information Return of Foreign
OMB No. 1545-0159
Form
Trust With a U.S. Owner
2019
(Under section 6048(b))
Department of the Treasury
Go to www.irs.gov/Form3520A for instructions and the latest information.
Internal Revenue Service
Note: All information must be in English. Show all amounts in U.S. dollars.
For calendar year 2019, or tax year beginning
, 2019, ending
, 20
.
Check appropriate boxes.
Initial return
Final return
Amended return
Check if any excepted specified foreign financial assets are reported on this form (see instructions) .
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Part I
General Information (see instructions)
1a
b(1) Employer identification number
Name of foreign trust
c
Number, street, and room or suite no. (if a P.O. box, see instructions)
b(2) Reference ID number (see instructions)
d
City or town
e
State or province
f
ZIP or foreign postal code
g
Country
2
Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all the relevant
trust information? .
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Yes
No
If “Yes,” skip lines 2a through 2e and go to line 3.
If “No,” you are required to attach a copy of all trust documents as indicated below. If these documents have been attached to a Form 3520-A
filed within the previous 3 years, attach only relevant updates.
Attached
Year
Have you attached a copy of:
Yes
No
Previously
Attached
a
Summary of all written and oral agreements and understandings relating to the trust? .
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b
The trust instrument? .
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Memoranda or letters of wishes?
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d
Subsequent variances to original trust documents? .
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Other trust documents? .
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e
3a
b
Name of U.S. agent
Identification number
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 trustee
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
5
Did the trust transfer (directly or indirectly) any property (including cash) to another person (see instructions for
definition of person) during the foreign trust’s tax year? If “Yes,” attach a statement (see instructions) .
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Yes
No
6
Enter the number of Foreign Grantor Trust Owner Statements (pages 3 and 4) included with this Form 3520-A
Under penalties of perjury, I declare that I have examined this return, including any accompanying reports, schedules, or statements, and to the best of my
knowledge and belief, it is true, correct, and complete.
Sign
Here
Trustee’s Signature
Title
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Check
if
Paid
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
3520-A
For Paperwork Reduction Act Notice, see instructions.
Form
(2019)
Cat. No. 19595G
3520-A
Annual Information Return of Foreign
OMB No. 1545-0159
Form
Trust With a U.S. Owner
2019
(Under section 6048(b))
Department of the Treasury
Go to www.irs.gov/Form3520A for instructions and the latest information.
Internal Revenue Service
Note: All information must be in English. Show all amounts in U.S. dollars.
For calendar year 2019, or tax year beginning
, 2019, ending
, 20
.
Check appropriate boxes.
Initial return
Final return
Amended return
Check if any excepted specified foreign financial assets are reported on this form (see instructions) .
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Part I
General Information (see instructions)
1a
b(1) Employer identification number
Name of foreign trust
c
Number, street, and room or suite no. (if a P.O. box, see instructions)
b(2) Reference ID number (see instructions)
d
City or town
e
State or province
f
ZIP or foreign postal code
g
Country
2
Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all the relevant
trust information? .
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Yes
No
If “Yes,” skip lines 2a through 2e and go to line 3.
If “No,” you are required to attach a copy of all trust documents as indicated below. If these documents have been attached to a Form 3520-A
filed within the previous 3 years, attach only relevant updates.
Attached
Year
Have you attached a copy of:
Yes
No
Previously
Attached
a
Summary of all written and oral agreements and understandings relating to the trust? .
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b
The trust instrument? .
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Memoranda or letters of wishes?
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d
Subsequent variances to original trust documents? .
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Other trust documents? .
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e
3a
b
Name of U.S. agent
Identification number
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 trustee
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
5
Did the trust transfer (directly or indirectly) any property (including cash) to another person (see instructions for
definition of person) during the foreign trust’s tax year? If “Yes,” attach a statement (see instructions) .
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Yes
No
6
Enter the number of Foreign Grantor Trust Owner Statements (pages 3 and 4) included with this Form 3520-A
Under penalties of perjury, I declare that I have examined this return, including any accompanying reports, schedules, or statements, and to the best of my
knowledge and belief, it is true, correct, and complete.
Sign
Here
Trustee’s Signature
Title
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Check
if
Paid
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
3520-A
For Paperwork Reduction Act Notice, see instructions.
Form
(2019)
Cat. No. 19595G
2
Form 3520-A (2019)
Page
Part II
Foreign Trust Income Statement
Enter totals from books and records of foreign trust (see instructions).
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Interest .
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Dividends .
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Gross rents and royalties
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Income (loss) from partnerships and fiduciaries .
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Capital gains:
a
Net short-term capital gain (loss) .
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Net long-term capital gain (loss)
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Ordinary gains (losses) .
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Other income (attach statement)
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Total income (add lines 1 through 7)
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Interest expense .
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10a
Foreign taxes (attach statement)
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b
State and local taxes
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11
Amortization and depreciation (depletion)
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12
Trustee and advisor fees
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13
Charitable contributions .
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14
Other expenses (attach statement)
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Total expenses (add lines 9 through 14) .
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16
Net income (loss) (subtract line 15 from line 8)
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Enter the fair market value (FMV) of total distributions (directly or indirectly) from the trust to all persons, whether
17a
U.S. or foreign. See instructions for definitions of distribution and person
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b
Distributions to U.S. owners:
(i) Name of owner
(ii) Identification number
(iii) Date of distribution
(iv) FMV on date of distribution
c
Distributions to U.S. beneficiaries:
(i) Name of beneficiary
(ii) Identification number
(iii) Date of distribution
(iv) FMV on date of distribution
Foreign Trust Balance Sheet
Beginning of Tax Year
End of Tax Year
Part III
Assets
(a)
(b)
(c)
(d)
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Cash
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Accounts receivable .
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Mortgages and notes receivable
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Inventories .
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Government obligations .
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Other marketable securities .
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Other nonmarketable securities .
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Depreciable (depletable) assets .
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b
Less: accumulated depreciation (depletion)
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Real property .
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Other assets (attach statement) .
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11
Total assets
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Liabilities
12
Accounts payable .
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Contributions, gifts, grants, etc., payable .
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Mortgages and notes payable
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Other liabilities (attach statement) .
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Total liabilities .
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Net Worth
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Contributions to trust corpus
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Accumulated trust income
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Other (attach statement) .
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Total net worth (add lines 17 through 19) .
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Total liabilities and net worth (add lines 16 and 20)
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3520-A
Form
(2019)
3
Form 3520-A (2019)
Page
2019 Foreign Grantor Trust Owner Statement (see instructions)
Important: Trustee must prepare a separate statement for each U.S. owner and include a copy of each statement with Form 3520-A. Trustee is also
required to send to each U.S. owner a copy of the owner’s statement. U.S. owner must attach a copy of its statement to Form 3520.
1a
Name of foreign trust
b(1)
Employer identification number
c
b(2)
Reference ID number (see instructions)
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
Country
Yes
No
Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all relevant trust information?
2
If “Yes,” complete lines 3a through 3g.
3a
Name of U.S. agent
b
Identification number
c
Number, street, and room or suite no. (if a P.O. box, see instructions)
d
e State or province
f ZIP or postal code
g
City or town
Country
4a
Name of trustee
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
5
The first and last day of the tax year of the foreign trust to which this statement relates
6a
Name of U.S. owner
b
Identification number
c
Number, street, and room or suite no. (if a P.O. box, see instructions)
d
e State or province
f ZIP or postal code
g
City or town
Country
h
Service Center where U.S. owner files its income tax returns
7
Attach an explanation of the facts and law (including the section of the Internal Revenue Code) that establishes that the foreign trust (or portion
of the foreign trust) is treated for U.S. tax principles as owned by the U.S. person.
8
If the trust did not appoint a U.S. agent, list the trust documents attached to Form 3520-A (see instructions).
9
Gross value of the portion of the trust treated as owned by the U.S. owner .
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Cash amounts or FMV of property distributed, directly or indirectly, during the foreign trust’s tax year, from the foreign trust (exclude loans) to
10
the U.S. owner.
(c)
(d)
(e)
(f)
(a)
(b)
FMV of property distributed
Description of property
FMV of property
Excess of column (c)
Date of distribution
Description of property distributed
(determined on date of distribution)
transferred, if any
transferred
over column (e)
Totals.
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3520-A
Form
(2019)
4
Form 3520-A (2019)
Page
2019 Statement of Foreign Trust Income Attributable to U.S. Owner (see instructions)
Report each item on the proper form or schedule of your tax return.
1a
Taxable interest .
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Tax-exempt interest
2a
Total ordinary dividends .
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b
Qualified dividends
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Gross rents and royalties
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Income from partnerships and fiduciaries .
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Capital gains (losses)
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Ordinary gains (losses) .
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7
Other income (attach statement)
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8
Total income. Add lines 1 through 7 .
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Interest expense .
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10a
Foreign taxes (attach statement)
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b
State and local taxes
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11
Amortization and depreciation (depletion)
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12
Trustee and advisor fees.
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13
Charitable contributions .
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14
Other expenses (attach statement) .
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Total expenses. Add lines 9 through 14 .
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Under penalties of perjury, I declare that I have examined this return, including any accompanying reports, schedules, or statements, and to the best of my knowledge and
belief, it is true, correct, and complete.
Trustee Signature
Title
Date
3520-A
Form
(2019)
5
Form 3520-A (2019)
Page
2019 Foreign Grantor Trust Beneficiary Statement
Important: Trustee must prepare a separate statement for each U.S. beneficiary that received a distribution from the trust during the tax year and
include a copy of each statement with Form 3520-A. Trustee is also required to send to each such beneficiary a copy of the beneficiary’s
statement. Each U.S. beneficiary must attach a copy of its statement to its Form 3520.
1a
Name of foreign trust
b(1)
Employer identification number
c
Number, street, and room or suite no. (if a P.O. box, see instructions)
b(2)
Reference ID number (see instructions)
d
e State or province
f ZIP or foreign postal code
g
City or town
Country
2
Did the foreign trust appoint a U.S. agent (defined in the instructions) who can provide the IRS with all relevant trust
information?
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Yes
No
If “Yes,” complete lines 3a through 3g.
If “No,” do you agree that either the IRS or the U.S. beneficiary can inspect and copy the trust’s permanent books of
account, records, and such other documents that are necessary to establish that the trust should be treated for U.S.
tax purposes as owned by another person? .
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Yes
No
3a
Name of U.S. agent
b
Identification number
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
b
Name of trustee
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
5
The first and last day of the tax year of the foreign trust to which Form 3520-A applies
6a
Name of U.S. beneficiary
b
Identification number
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
Cash amounts or FMV of property that during the current tax year was: (1) distributed directly or indirectly to a U.S. person whether or not the
7
U.S. person is designated as a beneficiary of the trust, (2) loaned (exclude loans treated as qualified obligations) directly or indirectly to the
U.S. person who is a beneficiary of the trust or a U.S. person related to that U.S. person, or (3) used by the U.S. person who is a beneficiary of
the trust or a U.S. person related to that U.S. person without compensating the trust for the FMV of the use of the property within a reasonable
period of time. (See the instructions for Part III of Form 3520 for U.S. tax treatment of these amounts).
(c)
(d)
(e)
(f)
(a)
(b)
FMV of property distributed
Description of property
FMV of property
Excess of column (c)
Date of distribution
Description of property distributed
(determined on date of distribution)
transferred, if any
transferred
over column (e)
Totals.
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$
8
Attach an explanation of the facts and law (including the section of the Internal Revenue Code) that establishes that the foreign trust (or portion
of the foreign trust) is treated for U.S. tax principles as owned by another person.
9
Owner of the foreign trust is (check one):
Individual
Partnership
Corporation
Under penalties of perjury, I declare that I have examined this return, including any accompanying reports, schedules, or statements, and to the best of my knowledge and
belief, it is true, correct, and complete.
Trustee Signature
Title
Date
3520-A
Form
(2019)
Page of 5