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April 12, 2021
Question

[URGENT] Mistake on Form 3520 Already Submitted

  • April 12, 2021
  • 1 reply
  • 0 views

Hi all,

 

I made a mistake on my Form 3520 filed due to cash gift from parent for educational support - basically, I forgot to fill out line 56 that asks if I have reason to believe that the foreign donor is "acting as a nominee or intermediary for any other person", when I should have marked NO.

 

Is there any way for me to rectify this, given that I have already submitted it? 

 

 

 

    1 reply

    DaveF1006
    April 12, 2021

    Yes, you can send a corrected copy of it along with a letter to the IRS explaining why you made the mistake on your original form.  Here is a copy you  can download and submit to the IRS along with your letter. Once you complete it, send to the IRS office that is in your jurisdiction. Here are the addresses. 

     

     

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    October 17, 2024

    Hi, 

    Thanks for your comment on earlier question.

    Do you know if IRS will give penalty if missed checking Line 56 box on Form 3520?

    Thanks,