Form 3520 - Annual Return To Report Transactions With Foreign Trusts And Receipt Of Certain Foreign Gifts - 2017 Page 5

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5
Form 3520 (2017)
Page
Part III
Distributions to a U.S. Person From a Foreign Trust During the Current Tax Year (Continued)
29
Did you receive a Foreign Grantor Trust Beneficiary Statement from the foreign trust with respect to a
distribution?
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Yes
No
N/A
If “Yes,” attach the statement and do not complete the remainder of Part III with respect to that distribution.
If “No,” complete Schedule A with respect to that distribution. Also complete Schedule C if you enter an
amount greater than zero on line 37.
30
Did you receive a Foreign Nongrantor Trust Beneficiary Statement from the foreign trust with respect to a
distribution?
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Yes
No
N/A
If “Yes,” attach the statement and complete either Schedule A or Schedule B below (see instructions). Also
complete Schedule C if you enter an amount greater than zero on line 37 or line 41a.
If “No,” complete Schedule A with respect to that distribution. Also complete Schedule C if you enter an
amount greater than zero on line 37.
Schedule A—Default Calculation of Trust Distributions (see instructions)
31
Enter amount from line 27
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32
Number of years the trust has been a foreign trust (see instructions) .
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33
Enter total distributions received from the foreign trust during the 3 preceding tax years (or during the number of
years the trust has been a foreign trust, if fewer than 3) .
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34
Multiply line 33 by 1.25
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35
Average distribution. Divide line 34 by 3 (or the number of years the trust has been a foreign trust, if fewer than 3)
and enter the result
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36
Amount treated as ordinary income earned in the current year. Enter the smaller of line 31 or line 35.
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37
Amount treated as accumulation distribution. Subtract line 36 from line 31. If -0-, do not complete the rest of Part III
38
Applicable number of years of trust. Divide line 32 by 2 and enter the result here
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Schedule B—Actual Calculation of Trust Distributions (see instructions)
39
Enter amount from line 27
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40a
Amount treated as ordinary income in the current tax year .
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Qualified dividends
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b
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41a
Amount treated as accumulation distribution. If -0-, do not complete Schedule C, Part III .
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b
Amount of line 41a that is tax exempt .
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42a
Amount treated as net short-term capital gain in the current tax year .
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b
Amount treated as net long-term capital gain in the current tax year .
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c
28% rate gain .
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d
Unrecaptured section 1250 gain
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43
Amount treated as distribution from trust corpus .
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44
Enter any other distributed amount received from the foreign trust not included on lines 40a, 41a, 42a, 42b, and 43
(attach explanation)
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45
Amount of foreign trust’s aggregate undistributed net income .
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46
Amount of foreign trust’s weighted undistributed net income .
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47
Applicable number of years of trust. Divide line 46 by line 45 and enter the result here
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Schedule C—Calculation of Interest Charge (see instructions)
48
Enter accumulation distribution from line 37 or 41a, as applicable .
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49
Enter tax on total accumulation distribution from line 28 of Form 4970 (attach Form 4970—see instructions)
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50
Enter applicable number of years of foreign trust from line 38 or 47, as applicable (round
to nearest half-year) .
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51
Combined interest rate imposed on the total accumulation distribution (see instructions) .
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52
Interest charge. Multiply the amount on line 49 by the combined interest rate on line 51
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53
Tax attributable to accumulation distributions. Add lines 49 and 52. Enter here and as “additional tax” on your
income tax return .
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3520
Form
(2017)

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