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partnerships (or any persons that you know (or have reason

You are not required to provide the information requested

to know) are related to such foreign corporations or foreign

on a form that is subject to the Paperwork Reduction Act

partnerships).

unless the form displays a valid OMB control number. Books

or records relating to a form or its instructions must be

For example, if you, a calendar-year taxpayer during

retained as long as their contents may become material in

2008, received $6,000 from foreign corporation X that you

the administration of any Internal Revenue law. Generally,

treated as a gift, and $8,000 that you received from

nonresident alien A that you treated as a gift, and you know

tax returns and return information are confidential, as

that X is wholly owned by A, you must complete columns (a)

required by section 6103. However, section 6103 allows or

through (g) for each gift.

requires the Internal Revenue Service to disclose or give the

information shown on your tax return to others as described

Note. Gifts from foreign corporations or foreign

in the Code. For example, we may disclose your tax

partnerships are subject to recharacterization by the IRS

information to the Department of Justice to enforce the tax

under section 672(f)(4).

laws, both civil and criminal, and to cities, states, the District

Line 56. If you answered “Yes” to the question on line 56

of Columbia, and U.S. commonwealths or possessions to

and the ultimate donor on whose behalf the reporting donor

carry out their tax laws. We may also disclose this

is acting is a foreign corporation or foreign partnership,

information to other countries under a tax treaty, to federal

attach an explanation including the ultimate foreign donor’s

and state agencies to enforce federal nontax criminal laws,

name, address, identification number (if any), and status as

or to federal law enforcement and intelligence agencies to

a corporation or partnership.

combat terrorism. Failure to provide this information, or

If the ultimate donor is a foreign trust, treat the amount

providing false information, may subject you to fines or

received as a distribution from a foreign trust and complete

penalties.

Part III.

Line 57. Answer “Yes” if, during the current tax year, you

Please keep this notice with your records. It may help you

received a “covered gift or bequest” (as defined in section

if we ask you for other information. If you have any

2801(e)) of more than $12,000 from a “covered expatriate”

questions about the rules for filing and giving information,

(as defined in section 877A(g)(1)).

please call or visit any Internal Revenue Service office.

Important. Answer “Yes” only in the case of “covered gifts

and bequests” received on or after June 17, 2008 from

The time needed to complete and file this form and

transferors (or from the estates of transferors) whose

related schedules will vary depending on individual

expatriation date is on or after June 17, 2008.

circumstances. The estimated burden for individual

Note. If you answer “Yes” to the question on line 57,

taxpayers filing this form is approved under OMB control

complete and file Form 708. Presently, the IRS is

number 1545-0074 and is included in the estimates shown

developing this form. When available, this form will be

in the instructions for their individual income tax return. The

posted at If Form 708 is not available at the

estimated burden for all other taxpayers who file this form is

time you file your income tax return, attach a separate

shown below.

statement to your income tax return which shows your

computation of the section 2801 tax.

Recordkeeping . . . . . . . . . . . . . . . . . . . . . . . .

42 hr., 48 min.

Learning about the law or the form . . . . . . . . . .

4 hr., 50 min.

Privacy Act and Paperwork Reduction Act Notice. We

Preparing the form . . . . . . . . . . . . . . . . . . . . . .

6 hr., 40 min.

ask for the information on this form to carry out the Internal

Revenue laws of the United States. You are required to give

Sending the form to the IRS . . . . . . . . . . . . . . .

16 min.

us the information. We need it to ensure that you are

complying with these laws and to allow us to figure and

If you have comments concerning the accuracy of these

collect the right amount of tax.

time estimates or suggestions for making this form simpler,

Our authority to ask for information is sections 6001,

we would be happy to hear from you. You can write to the

6011, and 6012(a) and their regulations, which require you

Internal Revenue Service, Tax Products Coordinating

to file a return or statement with us for any tax for which you

Committee, SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave.

are liable. Your response is mandatory under these

NW, IR-6526, Washington, DC 20224. Do not send the tax

sections. Section 6109 requires filers and return preparers

form to this office. Instead, see When and Where To File on

to provide their identification numbers. This is so we know

page 2.

who you are, and can process your return and other papers.

You must fill in all parts of the tax form that apply to you.

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Instructions For Form 3520 - Annual Return To Report Transactions With Foreign Trusts And Receipt Of Certain Foreign Gifts - 2008 Page 10

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