There are several issues in your situation which should be discussed separately...
As a recipient of the gift - you do not need to claim it as income. Please see for reference IRS publication 525 page 33 - http://www.irs.gov/pub/irs-pdf/p525.pdf
The donor - if he/she is an US citizen or an US resident might be required to file a gift tax return - and might be a subject of gift tax - but mot the recipient.
In case you received the money as a gift or inheritance or as a distribution from the foreign trust and - if the amount is more than $100,000, you are required to file form 3120 - http://www.irs.gov/pub/irs-pdf/f3520.pdf (see instructions for details - http://www.irs.gov/pub/irs-pdf/i3520.pdf) to declare transfer from the foreign country. There is no tax associated with this form.
In additional - your bank might be required to report your transaction - so I would suggest to consult with the banker if they need any supporting documents so your transaction would not look suspicious.
Using the scheme to make several small transactions to avoid reporting you might commit structuring - that is a crime regardless if there is any gift tax liability of not.
See the law section this matter - http://www.law.cornell.edu/uscode/31/usc_sec_31_00005324----000-.html
Structuring - it is a felony - even there is no any tax liability and no money laundering. I strongly advise against this. See for instance this article -
While the situation described is slightly different - that is the same offense - structuring with a purpose to avoid reporting.
You may be required to report on the Schedule B part III that you have accounts in the foreign country if the combined value of the accounts was $10,000 or less during the whole year. See details in the instructions to that form http://www.irs.gov/pub/irs-pdf/i1040.pdf on the page B-2 (sequential page 93) There is no tax associated with this reporting - this is for informational purposes only.
The form TD F 90-22.1- http://www.irs.gov/pub/irs-pdf/f90221.pdf that is referenced on the schedule B should be filled if you have financial interest in or signature authority, or other authority over any financial accounts, including bank, securities, or other types of financial accounts in a foreign country, if the aggregate value of these financial accounts exceeds $10,000 at any time during the calendar year. This reporting doesn't constitute tax liability.
The Form 90-22.1 is due June 30th of each year to report foreign bank accounts owned in the previous year.
Edited by LEV on 3/1/2010 at 6:24 AM EST