Form 3520 filings for UK personal pensions

Been reading a lot about whether there's a need to file forms 3520 and 3520-A for my free standing AVC pension account. The general consensus seems to be yes, although it's non unanimous.

Having taken a look at Form 3520, that's no big deal, but I've no idea where to start for Form 3520-A, given that it's asking for trust rules, income statement & balance sheet etc. (there are a mix of with profits and unit-linked funds within my FSAVC). The amounts in my fund don't justify spending money with a tax professional - I can't believe they would be cheap given how much I've just spent dealing with disposals of some PFICs in my ISA. I haven't yet called the FSAVC provider, but can't believe they are likely to have either filed a 3520-A, or be willing to help provide the information to me each year.

Has anyone completed a 3520-A for anything similar?

Many thanks
Martin

Has anyone completed a 3520-A for anything similar?

Many thanks
Martin

I am diligently avoiding any scenario where any 3520 forms would be necessary. Just curious how are you dealing with any gains in your pension prior to taking income ie you are filing the 3520s but are you actually paying US tax on the gains?
It might be useful for you to search out a professional advisor that takes the position that even UK personal pensions are exempt under the treaty and have no 3520 filing requirement.

Hi nun

So far I've been assuming that worst case (from a tax perspective) the FSAVCs would be treated as a PFIC with tax plus (many years of) interest at the point of distribution. To be honest, with the amounts involved, I'm looking more for filing efficiency than tax efficiency. However I still have more research to do (I'm a recent permanent resident) so haven't come to any informed conclusion at the moment. I'm hoping there will be no need to account for annual gains, as I doubt my provider will provide them?

Hi nun

So far I've been assuming that worst case (from a tax perspective) the FSAVCs would be treated as a PFIC with tax plus (many years of) interest at the point of distribution. To be honest, with the amounts involved, I'm looking more for filing efficiency than tax efficiency. However I still have more research to do (I'm a recent permanent resident) so haven't come to any informed conclusion at the moment. I'm hoping there will be no need to account for annual gains, as I doubt my provider will provide them?

Most professionals take the worst case scenario while a few take a far broader interpretation of the treaty. IMHO the treaty was set up with the intention of avoiding the pain and trouble you are going through so I would like to see the broader interpretation become more prevalent. If you have already waded through PFIC forms you are a better man than I.