Form 3520: Foreign Trust and Receipt of Certain Foreign Gifts
Foreign trusts and foreign gifts can trigger some of the IRS’s most complex—and heavily penalized—reporting rules. This webinar breaks down the when, why, and how of Form 3520 compliance so you can confidently identify filing obligations and avoid costly mistakes. We’ll walk through the key distinctions between domestic and foreign trusts under IRC §7701, including how the Court Test and Control Test determine trust classification. You’ll also learn when foreign gifts and inheritances must be reported, how reporting thresholds apply, and how withholding and income tax rules impact foreign trust transactions. The program concludes with a practical, form-focused discussion of Form 3520 and Form 3520-A, covering filing responsibilities for grantors, trustees, and beneficiaries under IRC §§671–679, along with deadlines, extension options, and penalty exposure for noncompliance. Whether you’re advising clients with international connections or encountering Form 3520 issues for the first time, this session will give you the clarity and confidence you need.
*Self-Study recording not available for NASBA CPE credit.
IRS Program #: 7Q3WU-T-00850-25
CTEC Course #: 6248-CE-00213
Rita Ryan
,
JD, LLM
Rita leads Wolf’s International Tax Services Practice, specializing in tax planning and compliance for international holdings. She has extensive experience advising clients on cross-border business activities, structuring international investments, and navigating U.S. compliance obligations for both entities and individuals. Rita also serves as a trusted advisor to other tax professionals, helping identify reporting requirements, review work papers, and ensure accuracy in an ever-evolving international tax landscape.
Prior to joining Wolf, Rita was an Associate Attorney at Vacovec, Mayotte & Singer, LLP, focusing on international and domestic taxation, estate planning, and tax controversy. She is also an Adjunct Professor at Boston University School of Law’s Graduate Tax Program, where she co-founded and co-teaches “Foreign Information Reporting and Withholding.” Rita frequently teaches other international tax topics for Strafford Publications, Tax Practice Pro, and Wolters Kluwer, sharing her expertise with tax professionals nationwide.
Nicole Ramos
,
EA
I am an Enrolled Agent and also work with Continuing Education for tax professionals nationwide.
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Form 3520: Foreign Trust and Receipt of Certain Foreign Gifts
2 IRS CE/2 NASBA CPE*
This webinar equips tax professionals to navigate complex IRS rules for foreign trusts and gifts, covering Form 3520/3520-A compliance, trust classification, reporting thresholds, tax implications, and penalties to ensure accurate international tax reporting.
