Annual Information Return of Foreign Trust With a U.S. Owner

2012

Department of the Treasury
Internal Revenue Service

Instructions for
Form 3520-A
Annual Information Return of Foreign Trust
With a U.S. Owner
Section references are to the Internal Revenue Code
unless otherwise noted.

U.S. owners and U.S. beneficiaries by the 15th day of the
3rd month after the end of the trust's tax year.

General Instructions

An extension of time to file Form 3520-A (including the
statements on pages 3 and 4) may be granted. For
details, see Form 7004, Application for Automatic
Extension of Time To File Certain Business Income Tax,
Information, and Other Returns.

Future Developments

For the latest information about developments related to
Form 3520-A and its instructions, such as legislation
enacted after they were published, go to
www.irs.gov/form3520.

Purpose of Form

Form 3520-A is the annual information return of a foreign
trust with at least one U.S. owner. The form provides
information about the foreign trust, its U.S. beneficiaries,
and any U.S. person who is treated as an owner of any
portion of the foreign trust.

Who Must File

A foreign trust with a U.S. owner must file Form 3520-A in
order for the U.S. owner to satisfy its annual information
reporting requirements under section 6048(b). Each U.S.
person treated as an owner of any portion of a foreign
trust under sections 671 through 679 is responsible for
ensuring that the foreign trust files Form 3520-A and
furnishes the required annual statements to its U.S.
owners and U.S. beneficiaries.

Exception. Canadian registered retirement savings plans
(RRSPs) and Canadian registered retirement income
funds (RRIFs) are not required to file Form 3520-A with
respect to a U.S. citizen or resident alien interest holder
who is eligible to file Form 8891, U.S. Information Return
for Beneficiaries of Certain Canadian Registered
Retirement Plans, with respect to the RRSP or RRIF. In
addition, other eligible Canadian plans within the meaning
of section 3 of Rev. Proc. 2002-23, 2002-15 I.R.B. 744,
are relieved of any obligation to file Form 3520-A with
respect to a U.S. citizen or resident alien beneficiary who
has made an election in accordance with section 4 of Rev.
Proc. 2002-23 and has complied with the annual reporting
requirements of Rev. Proc. 2002-23.

When and Where To File

File a complete Form 3520-A (including the statements on
pages 3 and 4) with the Internal Revenue Service Center,
P.O. Box 409101, Ogden, UT 84409, by the 15th day of
the 3rd month after the end of the trust's tax year. Give
copies of the Foreign Grantor Trust Owner Statement
(page 3 of Form 3520-A) and the Foreign Grantor Trust
Beneficiary Statement (page 4 of Form 3520-A) to the

Nov 13, 2012

Who Must Sign

If the return is filed by:
An individual or fiduciary, it must be signed and dated
by that individual or fiduciary.
A partnership, it must be signed and dated by a general
partner or limited liability company member.
A corporation, it must be signed and dated by the
president, vice president, treasurer, assistant treasurer,
chief accounting officer, or any other corporate officer
(such as a tax officer) authorized to sign.
The paid preparer must complete the required preparer
information and:
Sign the return in the space provided for the preparer's
signature.
Give a copy of the return to the filer.

Penalties

The U.S. owner is subject to an initial penalty equal to the
greater of $10,000 or 5% of the gross value of the portion
of the trust's assets treated as owned by the U.S. person
at the close of that tax year, if the foreign trust: (a) fails to
file a timely Form 3520-A or (b) does not furnish all of the
information required by section 6048(b) or includes
incorrect information. See section 6677(b). Additional
penalties will be imposed if the noncompliance continues
after the IRS mails a notice of failure to comply with the
required reporting. For more information, see section
6677.
Criminal penalties may be imposed under sections
7203, 7206, and 7207 for failure to file on time and for
filing a false or fraudulent return.
Penalties may also be imposed under section 6662(j)
for undisclosed foreign financial asset understatements.
Reasonable cause. No penalties will be imposed if the
taxpayer can demonstrate that the failure to comply was
due to reasonable cause and not willful neglect.
Note. The fact that a foreign country would impose
penalties for disclosing the required information is not
reasonable cause. Similarly, reluctance on the part of a
foreign fiduciary or provisions in the trust instrument that
prevent the disclosure of required information is not
reasonable cause.

Cat. No. 25096U

Definitions

use(s) any property of a foreign nongrantor trust, and you
or the U.S. beneficiary or any U.S. person related to you
or the U.S. beneficiary, does not compensate such trust at
FMV for the use of such property within a reasonable
period of time, the value of such use will be treated as a
distribution by the foreign nongrantor trust to you or the
U.S. beneficiary, as the case may be.

Distribution

A distribution is any gratuitous transfer of money or other
property from a trust, whether or not the trust is treated as
owned by another person under the grantor trust rules,
and without regard to whether the recipient is designated
as a beneficiary by the terms of the trust. A distribution
includes the receipt of trust corpus and the receipt of a gift
or bequest described in section 663(a).

Foreign Trust and Domestic Trust

A foreign trust is any trust other than a domestic trust.
A domestic trust is any trust if:
1. A court within the United States is able to exercise
primary supervision over the administration of the trust
and
2. One or more U.S. persons have the authority to
control all substantial decisions of the trust.

A distribution also includes constructive transfers from
a trust. For example, if charges you make on a credit card
are paid by a foreign trust or guaranteed or secured by the
assets of a foreign trust, the amount charged will be
treated as a distribution to you by the foreign trust.
Similarly, if you write checks on a foreign trust's bank
account, the amount will be treated as a distribution.

Grantor

A grantor includes any person who creates a trust or
directly or indirectly makes a gratuitous transfer of cash or
other property to a trust. A grantor includes any person
treated as the owner of any part of a foreign trust's assets
under sections 671 through 679, excluding section 678.

Also, if you receive a payment from a foreign trust in
exchange for property transferred to the trust or services
rendered to the trust, and the fair market value (FMV) of
the payment received exceeds the FMV of the property
transferred or services rendered, the excess will be
treated as a distribution to you.

Note. If a partnership or corporation makes a gratuitous
transfer to a trust, the partners or shareholders are
generally treated as the grantors of the trust, unless the
partnership or corporation made the transfer for a
business purpose of the partnership or corporation.
If a trust makes a gratuitous transfer to another trust,
the grantor of the transferor trust is treated as the grantor
of the transferee trust, except that if a person with a
general power of appointment over the transferor trust
exercises that power in favor of another trust, such person
is treated as the grantor of the transferee trust, even if the
grantor of the transferor trust is treated as the owner of the
transferor trust.

Examples
1. If you sell stock with an FMV of $100 to a foreign
trust and receive $150 in exchange, you have received a
distribution of $50.
2. If you receive $100 from the trust for services
performed by you for the trust, and the services have an
FMV of $20, you have received a distribution of $80.
Note. Due to changes to section 679(c) made by the
HIRE Act, effective after March 18, 2010, a loan of cash or
marketable securities from a foreign trust with a U.S.
grantor, directly or indirectly, to a U.S. person, or the use
of any other trust property directly or indirectly by any U.S.
person (whether or not a beneficiary under the terms of
the trust) will cause a foreign trust to be treated as a
grantor trust, unless the U.S. person repays the loan at a
market rate of interest or pays the FMV of the use of such
property within a reasonable period of time. Thus, in the
case of a trust with a U.S. grantor that is treated as a
grantor trust, the following two paragraphs will generally
not apply to loans made to U.S. persons from such a
foreign trust or to the use of other trust property by U.S.
persons from such a foreign trust after March 18, 2010.

Grantor Trust

A grantor trust is any trust to the extent that the assets of
the trust are treated as owned by a person other than the
trust. See the grantor trust rules in sections 671 through
679. A part of the trust may be treated as a grantor trust to
the extent that only a portion of the trust assets are owned
by a person other than the trust.

Gross Value

Gross value is the FMV of property as determined under
section 2031 and its regulations as if the owner had died
on the valuation date. Although formal appraisals are not
generally required, you should keep contemporaneous
records of how you arrived at your good faith estimate.

If you or a U.S. beneficiary, or a U.S. person related to
you or the U.S. beneficiary, receive(s) directly or indirectly
a loan from a foreign nongrantor trust, the amount of such
loan will be treated as a distribution to you or the U.S.
beneficiary, unless the obligation issued by you or the
U.S. beneficiary, or a U.S. person related to you or the
U.S. beneficiary, in exchange for the loan is a qualified
obligation. See the Instructions for Form 3520 for the
definition of qualified obligation. For this purpose, a loan
to you by an unrelated third party that is guaranteed by a
foreign trust is generally treated as a loan from the trust.
See section V(A) of Notice 97-34, 1997-25 I.R.B. 22.

Nongrantor Trust

A nongrantor trust is any trust to the extent that the assets
of the trust are not treated as owned by a person other
than the trust. Thus, a nongrantor trust is treated as a
taxable entity. A trust may be treated as a nongrantor trust
with respect to only a portion of the trust assets. See
Grantor Trust above.

After March 18, 2010, if you or a U.S. beneficiary, or
any U.S. person related to you or the U.S. beneficiary,
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Owner

transferor or any event terminating the trust, and the trust
cannot be amended or revised to allow such a distribution.
For these purposes, an amount will be treated as
accumulated for the benefit of a U.S. person even if the
U.S. person's interest in the trust is contingent on a future
event and regardless of whether anything is actually
distributed to a U.S. person during that tax year.

An owner of a foreign trust is the person that is treated as
owning any of the assets of a foreign trust under the
grantor trust rules.

Property

Property means any property, whether tangible or
intangible, including cash.

Special rule in case of discretion to identify
beneficiaries. For purposes of the general rule above, if
any person has the discretion of making a distribution
from the trust to, or for the benefit of any person, the trust
will be treated as having a beneficiary who is a U.S.
person, unless the terms of the trust specifically identify
the class of persons to whom such distributions may be
made, and none of those persons are U.S. persons during
the tax year.
Certain agreements and understandings treated as
terms of the trust. For purposes of the general rule
above, if any U.S. person who directly or indirectly
transfers property to the trust is directly or indirectly
involved in any agreement or understanding (whether
written, oral, or otherwise) that may result in the income or
corpus of the trust being paid or accumulated to or for the
benefit of a U.S. person, such agreement or
understanding will be treated as a term of the trust.
Certain loans or uncompensated use of trust
property. If a foreign trust is not already treated as
having a U.S. beneficiary under the rules described
above, the trust will be treated as having a U.S.
beneficiary if, after March 18, 2010, either:
The foreign trust loans cash or marketable securities
directly or indirectly to a U.S. person and the U.S. person
does not repay the loan at a market rate of interest within
a reasonable period of time, or
A U.S. person uses property that is owned by the
foreign trust and does not pay FMV of the use of such
property within a reasonable period of time.

U.S. Agent

A U.S. agent is a U.S. person (defined later) that has a
binding contract with a foreign trust that allows the U.S.
person to act as the trust's authorized U.S. agent (see the
instructions for Part I, Lines 3a through 3g, later) in
applying sections 7602, 7603, and 7604 with respect to:
Any request by the IRS to examine records or produce
testimony related to the proper U.S. tax treatment of
amounts distributed, or required to be taken into account
under the grantor trust rules, with respect to a foreign trust
or
Any summons by the IRS for such records or testimony.
A U.S. grantor, a U.S. beneficiary, or a domestic
corporation controlled by the grantor or beneficiary may
act as a U.S. agent. However, you may not treat the
foreign trust as having a U.S. agent unless you enter the
name, address, and taxpayer identification number of the
U.S. agent on lines 3a through 3g of Part I of the form. See
Identification numbers below.
If the person identified as the U.S. agent does not
produce records or testimony when requested or
summoned by the IRS, the IRS may redetermine the tax
consequences of your transactions with the trust and
impose appropriate penalties under section 6677.
The agency relationship must be established by the
time the U.S. person files Form 3520-A for the relevant tax
year and must continue as long as the statute of
limitations remains open for the relevant tax year. If the
agent’s responsibility as an agent of the trust is terminated
for any reason (e.g., agent’s resignation, agent’s
liquidation, or agent’s death), see section IV(B) of Notice
97-34.

Presumption that foreign trust has U.S. beneficiary.
For transfers of property after March 18, 2010, if a U.S.
person directly or indirectly transfers property to a foreign
trust (other than a deferred compensation or charitable
trust described in section 6048(a)(3)(B)(ii)), the IRS may
treat such trust as having a U.S. beneficiary for purposes
of applying section 679(d) to such transfer if the IRS
requests information with respect to the transfer and the
U.S. person fails to demonstrate to the satisfaction of the
IRS that no portion of the income or corpus of the trust
may ever be paid to or accumulated for the benefit of a
U.S. person.

U.S. Beneficiary

A U.S. beneficiary generally includes any person that
could possibly benefit (directly or indirectly) from the trust
(including an amended trust) at any time, whether or not
the person is named in the trust instrument as a
beneficiary and whether or not the person can receive a
distribution from the trust in the current year. In addition, a
U.S. beneficiary includes:
A foreign corporation that is a controlled foreign
corporation (as defined in section 957(a)),
A foreign partnership if a U.S. person is a partner of the
partnership, and
A foreign estate or trust if the estate or trust has a U.S.
beneficiary.

U.S. Person

A U.S. person is:
A citizen or resident alien of the United States (see Pub.
519, U.S. Tax Guide for Aliens, for guidance on
determining resident alien status),
A domestic partnership,
A domestic corporation,
Any estate (other than a foreign estate, within the
meaning of section 7701(a)(31)(A)), and
Any domestic trust (defined earlier).

Foreign trust treated as having a U.S. beneficiary. In
general, a foreign trust will be treated as having a U.S.
beneficiary unless the terms of the trust instrument
specifically prohibit any distribution of income or corpus to
a U.S. person at any time, even after the death of the U.S.
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into a binding agreement substantially in the format that
follows. Attach a copy of the authorization to Form
3520-A.

Specific Instructions
Period Covered

File the 2012 return for calendar year 2012 and fiscal
years that begin in 2012 and end in 2013. For a fiscal
year, fill in the tax year in the space at the top of the form.

!

Do not enter a PTIN on the authorization form.

CAUTION

Initial Return, Final Return, Amended
Return

AUTHORIZATION OF AGENT

Initial return. If this is the foreign trust's first return,
check the “Initial return” box.

[ Name of foreign trust ] hereby expressly authorizes [ name of
U.S. agent ] to act as its agent solely for purposes of sections
7602, 7603, and 7604 of the Internal Revenue Code with respect to
any request to examine records or produce testimony related to the
proper treatment of amounts required to be taken into account
under the rules of section 6048(b)(1)(A) or to any summons for such
records or testimony. I certify that I have the authority to execute
this authorization of agent to act on behalf of [ name of foreign
trust ].

Final return. If the foreign trust ceases to exist, check
the “Final return” box.
Amended return. If this Form 3520-A is filed to amend a
Form 3520-A that you previously filed, check the
“Amended return” box.

Part I—General Information

Signature of trustee
(or other authorized person)

Identification numbers. Use social security numbers or
individual taxpayer identification numbers to identify
individuals. Use employer identification numbers to
identify estates, trusts, partnerships, and corporations.

(title)

(date)

Your Name (type or print)

Do not enter a preparer tax identification number
(PTIN) in any entry space on Form 3520-A other
CAUTION
than the entry space for “PTIN” at the bottom of
page 1 of the form.

Identification Number (if any)

!

Address

[ Name of agent ] accepts this appointment to act as agent
for [ name of foreign trust ] for the above purpose. I certify that I
have the authority to execute this authorization of agent to act on
behalf of [ name of foreign trust ] and agree to accept service of
process for the above purposes.

Address. Include the room, suite, or other unit number
after the street address. If the post office does not deliver
mail to the street address and the U.S. person has a P.O.
box, show the box number instead.
Foreign address. Do not abbreviate the country name.

Signature of agent

Line 2. If the trust did not appoint a U.S. agent, attach the
following documents to Form 3520-A:
A summary of the terms of the trust that includes a
summary of any oral agreements or understandings you
have with the trustee, whether or not legally enforceable.
A copy of all trust documents (and any revisions),
including the trust instrument, any memoranda of wishes
prepared by the trustees summarizing the settlor's wishes,
any letter of wishes prepared by the settlor summarizing
his or her wishes, and any similar documents.

(title)

(date)

Your Name (type or print)

Identification Number (if any)

Address

Line 5. Attach a statement that provides the following
information concerning the transfer:
1. Name, U.S. taxpayer identification number (if any),
and country of organization or residence of the person to
whom the property was transferred.
2. A general description of the transfer, and any
broader transaction of which it forms a part, including a
chronology of the transfers involved and an identification
of the other parties to the transaction to the extent known.
3. A description of the property transferred, including
the estimated FMV and the adjusted basis of the property.
4. A description of the consideration received by the
trust, including its estimated FMV, and for stock or
securities, the class or type, amount, and characteristics
of the interest received. If no consideration was received
by the trust, indicate whether the trust or a U.S. owner
exercises any powers over the entity to which the property
was transferred (including a description of such powers),

Lines 3a through 3g. If a foreign trust with a U.S. owner
does not have a U.S. agent, the IRS may determine the
amounts required to be taken into account with respect to
the foreign trust by the U.S. owner. See section 6048(b)
(2). In order to avoid this, a U.S. owner of a foreign trust
should ensure that the foreign trust appoints a U.S.
person to act as the foreign trust's limited agent for
purposes of applying sections 7602, 7603, and 7604 with
respect to a request by the IRS to examine records or
produce testimony, or a summons by the IRS for such
records or testimony. Any U.S. citizen, resident alien, or
domestic corporation (including a U.S. grantor or U.S.
beneficiary of a foreign trust) may act as the U.S. agent of
the trust.
In order to authorize a U.S. person to act as an agent
under section 6048(b), the trust and the agent must enter
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and identify the name, U.S. taxpayer identification number
(if any), and country of organization or residence of all
beneficial owners of such entity.
5. To the extent known, a description of any
subsequent transfer of the property, including the name,
U.S. taxpayer identification number (if any), and country of
organization or residence of the person to whom the
property was subsequently transferred.

Line 6. Ordinary gains (losses). Enter the ordinary gain
or (loss) from the sale or exchange of property other than
capital assets and also from involuntary conversions
(other than casualty or theft).
Line 7. Other income. Enter other items of income not
included on lines 1 through 6. List the types and amounts
on an attached statement if the trust has more than one
item.
Items to be reported on line 7 include any part of a total
distribution shown on Form 1099-R, Distributions From
Pensions, Annuities, Retirement or Profit-Sharing Plans,
IRAs, Insurance Contracts, etc., that is treated as ordinary
income. For more information, see the instructions for
Form 4972, Tax on Lump-Sum Distributions.

The statement must also contain a description of the
trust ownership structure setting forth the name, U.S.
taxpayer identification number (if any), and country of
organization of all entities in which the trust has an
ownership interest, including an ownership chart showing
the trust's position in the chain of ownership and the
percentages of ownership.

Expenses

Note. The term “person” includes an individual or an
entity, whether U.S. or foreign. See the definition of U.S.
person earlier. A foreign person is an individual or entity
that is not a U.S. person.

Line 9. Interest expense. Enter the amount of interest
(subject to limitations) paid or incurred by the trust on
amounts borrowed by the trust, or on debt acquired by the
trust, that is not reported elsewhere in Part II.
If the proceeds of a loan were used for more than one
purpose (for example, to purchase a portfolio investment
and to acquire an interest in a passive activity), the
fiduciary must make an interest allocation according to the
rules in Temporary Regulations section 1.163-8T.
Do not include interest paid on indebtedness incurred
or continued to purchase or carry obligations on which the
interest is wholly exempt from income tax.

Part II—Foreign Trust Income
Statement

Include all income from U.S. and non-U.S. sources. This
financial statement must reasonably reflect the trust's
income under U.S. income tax principles.

Income
Line 1. Interest. Report all taxable interest income that
was received during the tax year. Examples of taxable
interest include, but are not limited to, interest from:
Accounts (including certificates of deposit and money
market accounts) with banks, credit unions, and thrift
institutions.
Notes, loans, and mortgages.
U.S. Treasury bills, notes, and bonds.
U.S. savings bonds.
Original issue discount.
Income received as a regular interest holder of a real
estate mortgage investment conduit (REMIC).
For taxable bonds acquired after 1987, amortizable
bond premium is treated as an offset to the interest
income instead of as a separate interest deduction. See
Pub. 550, Investment Income and Expenses.

Line 10a. Foreign taxes. A foreign tax includes only a
tax imposed by the authority of a foreign country.
Line 10b. State and local taxes. Enter any deductible
state and local income or real property taxes paid or
incurred during the tax year that are not reported
elsewhere in Part II.
Do not deduct on line 10b or on any other line of Part II:
Federal income taxes.
Estate, inheritance, legacy, succession, and gift taxes.
Federal duties and excise taxes.
State and local sales taxes. Instead, treat these taxes
as part of the cost of the property.
Line 11. Amortization and depreciation (depletion). A
reasonable amount is allowed as a depreciation deduction
for the exhaustion, wear, and tear of:
Property used in a trade or business or
Property held for the production of income.

Line 2. Dividends. Report all ordinary dividends
received during the tax year.

Line 12. Trustee and advisor fees. Enter the
deductible fees paid or incurred to the fiduciary for
administering the trust during the tax year.

Note. Report capital gain distributions on line 5.
Line 4. Income (loss) from partnerships, fiduciaries,
etc. Enter the trust's share of income or (losses) from
partnerships, S corporations, estates, other trusts, and
REMICs.
If the trust received a Schedule K-1 from a partnership,
S corporation, or other flow-through entity, use the
corresponding lines on Form 3520-A to report the interest,
dividends, capital gains, etc., from the flow-through entity.

Line 13. Charitable contributions. Generally, any part
of the income reported on line 8 that is paid (or treated as
paid) during the tax year for a charitable purpose specified
in section 170(c) is allowed as a deduction. It is not
necessary that the charitable organization be created or
organized in the United States.
Line 14. Other expenses. Enter other items of expense
not listed on lines 9 through 13. List the type and amount
on an attached statement if the trust has more than one
item.

Line 5. Capital gains (losses). For capital gains
(losses) attributable to a U.S. owner, use Schedule D
(corporate or individual, whichever applies).
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distribution (including the uncompensated use of trust
property) from the foreign trust during the tax year.

Lines 17b and 17c. Distributions to U.S. owners and
beneficiaries. Separately list the total amount of
distributions (including the uncompensated use of trust
property) to each U.S. owner and beneficiary. List the full
name, identification number, date of distribution, and FMV
(dollar amount) for each U.S. owner and beneficiary
receiving a distribution. If more space is needed, attach a
statement.
Prepare a separate Foreign Grantor Trust Owner
Statement (see below) or Foreign Grantor Trust
Beneficiary Statement (see below) for each U.S. owner
or for each U.S. beneficiary who receives a distribution
from the trust.

Exception. Do not complete this statement for a U.S.
person for any portion of the trust of which that U.S.
person is treated as the owner; instead, complete the
Foreign Grantor Trust Owner Statement for that U.S.
person (as described above).
The statement must be furnished to the U.S.
beneficiary no later than the 15th day of the 3rd month
following the end of the trust's tax year or later, if an
extension of time to file is granted. See When and Where
To File, earlier.
Identification numbers and addresses. See the
instructions for Part I earlier, for information on entering
identification numbers and addresses.

Part III—Foreign Trust Balance Sheet
List all assets and liabilities of the trust, including those
assets and liabilities attributable to the portion(s) of the
trust (if any) not treated as owned by a U.S. person.
The balance sheet should reflect FMV. Include
certificates of deposit as cash on line 1.

Paperwork Reduction Act Notice. We ask for the
information on this form to carry out the Internal Revenue
laws of the United States. You are required to give us the
information. We need it to ensure that you are complying
with these laws and to allow us to figure and collect the
right amount of tax.

Line 18. Accumulated trust income. Include the total
amount of trust income accumulated and not distributed.

Foreign Grantor Trust Owner
Statement

You are not required to provide the information
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
control number. Books or records relating to a form or its
instructions must be retained for as long as their contents
may become material in the administration of any Internal
Revenue law.

A copy of this statement (page 3 of Form 3520-A) must be
furnished to each U.S. person who is treated as an owner
of the foreign trust under the grantor trust rules. The
statement must be furnished no later than the 15th day of
the 3rd month following the end of the trust's tax year or
later, if an extension of time to file is granted. See When
and Where To File , earlier.

The time needed to complete and file the form will vary
depending on individual circumstances. The estimated
average time is:

Identification numbers and addresses. See the
instructions for Part I earlier, for information on entering
identification numbers and addresses.
Line 8. Trust documents. If the trust did not appoint a
U.S. agent, list the documents attached to the current year
Form 3520-A and those attached to a Form 3520-A filed
within the last 3 years. Specify the years the documents
were attached. See the instructions for line 2, Part I, for a
list of documents the trust is required to attach to Form
3520-A.

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

37 hr., 18 min.

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

2 hr., 40 min.

Preparing and sending the form to
the IRS . . . . . . . . . . . . . . . . . . . .

3 hr., 24 min.

If you have comments concerning the accuracy of
these time estimates or suggestions for making this form
simpler, we would be happy to hear from you. You can
write to the Internal Revenue Service, Tax Products
Coordinating Committee, SE:W:CAR:MP:T:M:S, 1111
Constitution Ave. NW, IR-6526, Washington, DC 20224.
Do not send the form to this office. Instead, see When and
Where To File, earlier.

Statement of Foreign Trust Income Attributable
to U.S. Owner

The amounts on the statement must include the portion of
income reported by the foreign trust deemed attributable
to the U.S. owner.
The foreign trust may need to furnish to the U.S. owner
additional information, including applicable statements, to
ensure that the owner accurately reports income and
expenses on the owner's U.S. income tax return.

Foreign Grantor Trust Beneficiary
Statement

A copy of this statement (page 4 of Form 3520-A) must be
furnished to each U.S. beneficiary who receives a

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