Taxes (Forms, Information…)

US Taxes

Related Discussion Thread


Where did you get the information that it is necessary to file an IRS Form 3520 if you own a condo in Loreto Bay thru a trust? I pulled the forms you have listed. I do not receive any information from the trustee which is Deutsche Bank in Mexico City. I am really confused. Thanks – PH

Al Graichen responds:

There are numerous web sites that discuss the IRS requirements for form 3520 and 3520a, most notably is the following. Most sites argue whether it is a requirement or not to actually file for the trust needed to “own” property in Mexico. As I noted in the posting, there seems to not be a definite Yes/No on the reporting, but like anything else with the IRS, I choose to err on the side of conservative.

The instructions for the forms themselves can be rather convoluted like most of the IRS instructions.