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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2672
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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This is regarding reporting foreign gifts on Form 3520. I received

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This is regarding reporting foreign gifts on Form 3520. I received a gift from my Mother, a foreign national, in excess of $100,000. My Mother has since deceased. I am planning to report this on Form 3520. The only record I have is the wire transfer record from my Bank - which shows up on my US bank statement. In the future, can this be an audit flag, and if so, since my Mother has passed away, can I have potential issues, since I have no access to further details or information?

Welcome and thank you for giving me the opportunity to assist you with your tax question.


You will complete Part IV of Form 3520 (starting with Line 54) for which you have all of the information based on your question. You do not have any potential issues to be concerned about.


Thank you and best regards.

Customer: replied 3 years ago.

OK thanks. One clarification: Could the IRS request further information about the donor, my Mother or her bank, who since is now deceased I have no access to?


Thanks for your prompt response. I am assuming that my questions will remain confidential.

Hi, Ron.


I do not believe that the IRS will request further information regarding your Mom or her bank. You are using Form 3520 to report the information that the IRS requires.


Please accept my deepest sympathy on the passing of your Mom.


Let me know if I can assist you further. Thank you.

Barbara and 2 other Tax Specialists are ready to help you

Hi, Ron.


Just a short note to thank you for the positive rating. It is most appreciated. If you have any questions in the future, please feel free to put "for bkb1956 or Barb" in the subject line, and I will be happy to assist you. Recommendations to family and friends are also appreciated.


Thanks again, and best regards,


Customer: replied 3 years ago.



You're very welcome.




It's been my pleasure, Ron.