Answer 3 quick questions to find out if your foreign gift or inheritance
triggers a US reporting obligation — and what to do if your filing is late.
Question 1 of 3
Are you a US citizen, US resident, or green card holder?
Question 2 of 3
Did you receive money, property, or assets from a foreign (non-US) source — a person, company, or estate?
Question 3 of 3
What was the total value received from all foreign sources in a single tax year?
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Yes — you likely had a filing requirement
US persons who receive over $100,000 from foreign individuals or estates in a single year must file Form 3520 Part IV. If your filing was late, the Oct 2024 IRS change means a well-structured reasonable-cause statement — attached when you file — can stop the §6039F penalty before it’s assessed.
Not legal or tax advice. This screener is a general guidance tool. Always confirm your filing obligation and penalty exposure with a qualified international tax attorney or CPA before filing.
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Possibly — depends on the source type
At $19,570–$100,000 the answer depends on the source. Foreign corporations or partnerships have a lower threshold (~$19,570) — so you likely had a filing requirement. From a foreign individual or estate, the threshold is $100,000 — and you may be under it. A qualified international tax professional can confirm your specific obligation.
Not legal or tax advice. Confirm with a qualified professional.
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Form 3520 Part IV applies to US persons only
If you’re not a US citizen, resident, or green card holder, you generally don’t have this specific filing obligation. This tool is designed for US persons who received foreign gifts or bequests and may have filed late.
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Likely no Form 3520 Part IV obligation
Form 3520 Part IV covers gifts or bequests from non-US sources. If everything you received came from US-based sources, this filing requirement likely doesn’t apply. Always verify with a tax professional if you’re uncertain.
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Likely below the reporting threshold
The lowest reporting threshold is approximately $19,570 (for foreign corporations or partnerships). Below that, you generally don’t have a Form 3520 Part IV obligation. Verify with a tax professional to confirm your specific situation.
Individual / estate threshold
$100,000 per year
Gifts or bequests from foreign individuals or foreign estates exceeding $100,000 in a single tax year must be reported on Form 3520 Part IV.
Corporation / partnership threshold
~$19,570 (2024, inflation-adjusted)
Gifts from foreign corporations or partnerships exceeding this inflation-adjusted amount must be reported, regardless of total amount from individuals.
Late filing penalty
5% per month, up to 25%
The §6039F penalty has no dollar cap. On a $1M inheritance, that’s up to $250,000 — often exceeding the gift itself. Average documented penalty: $235,000+.
Not legal or tax advice. This screener is an informational tool only. Thresholds are based on published IRS rules as of the date noted; amounts may be adjusted for inflation annually. Always verify your specific filing obligations with a qualified international tax attorney or CPA before relying on this screener.