Form 3520 - Foreign Trust Transactions FAQs (1040)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

The following includes answers to common questions about working with Form 3520 data.

What are the filing requirements for Forms 3520 and 3520-A for an individual?

What are the effects of answering ‘Yes’ or ‘No’ on Form 3520, Line 3?

When should the Authorization of Agent be submitted?

Why isn’t Schedule B from Form 3520, Part III calculating?

How does UltraTax CS calculate the interest charge from Form 3520, Part III, Schedule C?

Why can Form 1040 not be e-filed when filing 4970 with Form 3520?

Why is data entry for gifts or bequests not displaying on Form 3520, Part IV, Line 54?

What data entry is required to display a trustee’s information throughout Form 3520-A?

How are distributions calculated on Form 3520-A, Part II, Line 17?

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