IRS reporting for U.S. persons with foreign trusts

Forms, instructions and regulations that the IRS and FinCEN publish for U.S. persons connected to foreign trusts, foreign accounts and foreign entities, organized as a reference library.

How this section works

The guidance library summarizes statutes, regulations and publications in plain language.

The summaries do not decide which forms apply to a person, and they are not IRS publications.

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IRS forms15 form reference pages, from Form 3520 to FinCEN 114.Guidance libraryPlain-language summaries of 16 official documents on foreign trusts, information reporting and treaties, each linked to the original text of the document.IRS form finderSearch the form pages by keyword.Glossary83 defined terms used in the forms and instructions.

Chart of forms by role in foreign trust reporting. Data table below. — Forms by role in foreign trust reporting; roles can overlap and thresholds depend on the filer.

Forms by role and related reporting notes
Role or topic	Connection or condition	Form or reporting	Details
Start here	Your connection to a foreign trust or account?	Roles can overlap, so one person can follow several branches.
Transferor	Created a foreign trust, or transferred money or property to one	Form 3520	May have a Form 3520 reporting requirement, depending on the applicable reporting category
Owner	Treated as owner of any part of a foreign trust under the grantor trust rules	Form 3520	Reports the trust in Part II
Owner	Treated as owner of any part of a foreign trust under the grantor trust rules	Form 3520-A	Annual return of a foreign trust with a U.S. owner; if the trust has not filed, a substitute Form 3520-A is attached to the owner's timely Form 3520
Recipient	Received a distribution, a loan or use of trust property, or a certain foreign gift	Form 3520	Part III reports distributions; Part IV covers receipt of certain foreign gifts
Account interest	Has a financial interest in foreign financial accounts	FinCEN Form 114	FBAR is required when the aggregate value of foreign financial accounts exceeds $10,000 at any time during the calendar year
Account interest	Has a financial interest in foreign financial accounts	Form 8938	Specified foreign financial assets; generally reportable when aggregate value exceeds $50,000, with higher thresholds in some cases
Signature authority	Has signature or other authority over foreign financial accounts	FinCEN Form 114	The same $10,000 aggregate value test applies whether the person has a financial interest or signature authority
Specified foreign financial assets	Holds financial accounts at foreign institutions or other specified foreign assets	Form 8938	Trust interests and foreign gifts reported on Form 3520 or 3520-A, and items reported on Forms 5471, 8621 or 8865, need not be reported a second time on Form 8938. The filer reports the number of those forms filed in Part IV of Form 8938, and the asset's value still counts toward the threshold.
Owner	Treated as owner of any part of a foreign trust under the grantor trust rules	Form 8938	Specified foreign financial assets held by the owned portion of a foreign trust (sections 671 through 679) are excluded when the owner timely files Form 3520 for the same tax year, ensures the trust timely files Form 3520-A or a substitute, and reports both filings on Form 8938.
FBAR and a trust beneficiary	Trust beneficiary with a financial interest in the trust's foreign financial accounts	FinCEN Form 114	FinCEN's instructions provide an exception for a trust beneficiary with the financial interest described in section (2)(e) of the definition: the trust, trustee or agent is a U.S. person and files an FBAR disclosing the trust's foreign accounts.

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