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Topic: IRS seeking comments on burden of 3520/3520-A forms  (Read 919 times)

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IRS seeking comments on burden of 3520/3520-A forms
« on: September 14, 2019, 04:39:32 AM »
There's a notice in the Federal Register stating that the IRS is looking for comments on the burden of filing forms 3520 and 3520-A. I thought some people here might be interested in explaining how these forms impact them or their clients.

https://www.federalregister.gov/documents/2019/08/20/2019-17812/proposed-collection-comment-request-for-forms-3520-and-3520-a [nofollow]

Quote
SUMMARY:
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning annual return to report transactions with foreign trusts and receipt of certain foreign gifts and for annual information return of a foreign trust with a U.S. owner.
DATES:
Written comments should be received on or before October 21, 2019 to be assured of consideration.

ADDRESSES:
Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the form should be directed to Christina Leeper, at (737) 800-7737 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Christina.E.Leeper@irs.gov.

SUPPLEMENTARY INFORMATION:
Titles: Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts and Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner.


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