If you still have issues with unreported foreign transactions and accounts, you don't need a wake-up call. There are three broad classes of people who need relief from failure to comply with reporting requirements on foreign income and assets. Form 3520 - Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Form 3520 - Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Form 8621 - Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund.

Source: Forbes June 03, 2018 17:15 UTC