How to file foreign private retirement fund assets?

Forum|Forum|1 year ago
March 30, 2025
1 reply
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Do I need to file Form 3520 for a foreign private retirement fund (i.e., is this considered a foreign trust which I must report as such)? I'm not retired and therefore have not received any distributions from this fund yet. However, as a retirement fund, it does generate interest that is kept invested in the fund.

I am currently reporting this as interest in a regular foreign investment account (1099-INT).

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pk12_2

Employee

@abc481 what exactly do you mean a "private retirement " fund ? Is it a trust run by an employer, by a foreign public/govt or what ? Or do you mean really a few shareholders ( friends ) holding a trust/PFIC or what ? Or just your own personal trust ? or what ? Which country or countries ?

Why do you think you need form 3520 ( distribution from a foreign trust/ Estate/ person )?

Please answer my Qs. And I will circle back.

abc481Author

Hi @pk12_2 , thank you for your reply.

by "private retirement fund" I mean pretty much the equivalent of a 401(k) in Brazil. It's a fund to which I've made contributions for several years with a corresponding match by my former employer, and the fund is managed by a company that does only that.

I mentioned "trust" and form 3520 actually because I don't really know whether that's considered a trust or if a trust is something entirely different.

Thank you

pk12_2

Employee

@abc481 it would be considered a trust --- I am assuming it is a Fidei commissao or similar.. So for your FATCA reporting ( form 8938 ) you have to recognize the value in the trust.

Note that unless there is a tax treaty concluded and in effect at distribution time ( currently there ius none ), there is no protection from double taxation.

Is there more I can do for you ?