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

unless the form displays a valid OMB control number. Books

2009, received $8,000 from foreign corporation X that you

or records relating to a form or its instructions must be

treated as a gift, and $10,000 that you received from

retained as long as their contents may become material in

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

the administration of any Internal Revenue law. Generally,

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

tax returns and return information are confidential, as

through (g) for each gift.

required by section 6103. However, section 6103 allows or

requires the Internal Revenue Service to disclose or give the

Note. Gifts from foreign corporations or foreign

information shown on your tax return to others as described

partnerships are subject to recharacterization by the IRS

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

under section 672(f)(4).

information to the Department of Justice to enforce the tax

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

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

and the ultimate donor on whose behalf the reporting donor

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

is acting is a foreign corporation or foreign partnership,

carry out their tax laws. We may also disclose this

attach an explanation including the ultimate foreign donor’s

information to other countries under a tax treaty, to federal

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

and state agencies to enforce federal nontax criminal laws,

a corporation or partnership.

or to federal law enforcement and intelligence agencies to

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

combat terrorism. Failure to provide this information, or

received as a distribution from a foreign trust and complete

providing false information, may subject you to fines or

Part III.

penalties.

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 $13,000 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.

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

The time needed to complete and file this form and

complete and file Form 708. At the time these instructions

related schedules will vary depending on individual

went to print, the IRS was still developing Form 708. When

circumstances. The estimated burden for individual

available, this form will be posted at Your filing

taxpayers filing this form is approved under OMB control

and tax payment obligations with respect to any section

number 1545-0074 and is included in the estimates shown

2801 tax liability will not be due until the date to be indicated

in the instructions for their individual income tax return. The

on the Form 708 or in the related instructions, once they

estimated burden for all other taxpayers who file this form is

have been issued. See Announcement 2009-57, 2009-29

shown below.

I.R.B. 158, for additional information.

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

42 hr., 48 min.

Privacy Act and Paperwork Reduction Act Notice. We

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

4 hr., 50 min.

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

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

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

6 hr., 40 min.

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

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

16 min.

complying with these laws and to allow us to figure and

collect the right amount of tax.

If you have comments concerning the accuracy of these

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.

You are not required to provide the information requested

on a form that is subject to the Paperwork Reduction Act

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Instructions For Form 3520 - Annual Return To Report Transactions With Foreign Trusts And Receipt Of Certain Foreign Gifts - 2009 Page 10

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