Question

Form 3520, Part IV. I received foreign gifts from 4 people in excess of $5000, but only 3 lines are provided on this form. What kind of statement do I need to attach?

Forum|Forum|6 years ago
June 6, 2019
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Form 3520, Part IV. I received foreign gifts from 4 people in excess of $5000, but only 3 lines are provided on this form and more space is needed. What kind of statement do I need to attach?

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M

MinhT1

If the gifts received from a nonresident alien (or related nonresident aliens) do not exceed $100,000, then you should answer No to question 54 in Part IV and you do not need to fill out the detailed list in Part IV.

If you really need more space, then just attach a statement in the same format and the same headings as the list in question 54 Part IV.

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M

myselfdemon

"Statement" that need to be attached if more than 3 transactions, Is it the bank statement showing the transactions? Or should i just make a similar table on plane paper and list the remaining transactions and attach it with the form?

V

Vanessa A

Yes, you can attach the statement with title Part IV 54 additional transactions and yes, you will need to enter refer to statement attached on the original form.

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