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Get the free 2006 Instruction 3520. Instructions for Form 3520, Annual Return to Report Transacti...

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PAGER/SGML Page 1 of 13 Use rid: Filed: I3520.SGM DID INSTR04 (25Jan2007) Leading adjust: 0% Instructions for Form 3520 Draft (Unit. & date) Ok to Print 13:09 25JAN2007 The type and rule above prints
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Individuals who meet the specific criteria set forth by the IRS and are involved in certain financial transactions or have foreign assets exceeding the specified thresholds need to fill out the 2006 instruction 3520 instructions.
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This includes US citizens or residents who receive gifts or inheritances from foreign individuals or entities exceeding certain amounts, and individuals who own or have joint ownership in foreign trusts.
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Instruction 3520 is for reporting information on certain foreign trusts.
US persons who are grantors, owners, or beneficiaries of a foreign trust.
The form must be completed with detailed information about the foreign trust and the US person's relationship to it.
The purpose is to ensure that US persons report their foreign trust activities and income accurately.
Information such as trust details, income received, distributions made, and the US person's relationship to the trust.
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