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Generally you are correct.
But if the amount was in excess of 100K then the amount would need to be reported on Form 3520 Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts.
See the form and instructions here - http://www.irs.gov/pub/irs-access/f3520_accessible.pdf, http://www.irs.gov/pub/irs-pdf/i3520.pdf
See the instructions, page 1, number 4.
Note that if the gift was from a foreign corporation or partnership the threshold is 14,723, not 100K.
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