Summary of changes

2009 Instructions for Form 3520
Purpose: This is the first circulated draft of the 2009 Instructions for Form 3520
for your review and comments. See next page for a discussion of the major changes.
TPCC Meeting: None, but one may be arranged if requested.
Prior Version: The 2008 Instructions for Form 3520 are available at:
http://www.irs.gov/pub/irs-pdf/i3520.pdf.
Form: The 2009 Form 3520 was circulated earlier and is attached.
Other products: Circulations of draft tax forms, instructions, notices, and publications
are posted at: http://taxforms.web.irs.gov/Circulations/index.htm.
Comments: Please email, fax, call, or mail any comments to me by September 17,
2009. Comments submitted by telephone must be followed up in writing to be
considered. Send a copy of any email comments to the form’s reviewer, Steve Becker,
at Stephen.W.Becker@irs.gov.
Bob Kennedy
Tax Forms and Publications
SE:W:CAR:MP:T:B:C
Email: Robert.J.Kennedy@irs.gov
Phone: 202-622-3403
Fax: 202-622-3262

Major Changes to the 2009 Instructions for Form 3520
Page 1
•

Under Who Must File, we updated the amount in item 4b to reflect the cost of
living adjustment provided in section 3.34 of Rev. Proc. 2008-66, 2008-45 I.R.B.
1107.

Pages 8 and 9
•

We updated the Table of Combined Interest Rates to reflect the applicable interest
rates through June 30, 2009, as provided by Rev. Rul. 2009-7, 2009-13 I.R.B.
717.

Page 9
•

We updated the dollar amount in the first paragraph of the line 55 instructions (re
large gifts received from foreign persons) to reflect the cost-of-living adjustment
provided in section 3.34 of Rev. Proc. 2008-66, 2008-45 I.R.B. 1107.

•

In the first paragraph of the line 55 instructions, we also changed “persons” to
“foreign persons” for purposes of clarification. With respect to the application of
section 6039F, Notice 97-34, Section VI(B) indicates that a person related to a
foreign donor must be foreign.

Page 10
•

We updated the dollar amount in the first paragraph of the line 57 instructions to
reflect the cost of living adjustment provided in section 3.30 of Rev. Proc. 200866.

•

At the request of Chief Counsel, we modified the Note in the line 57 instructions
to clarify that the filer’s filing and tax payment obligations with respect to any
section 2801 tax liability will not be due until after Form 708 has been issued, and
to let filers know that the due dates will be specified on the Form 708 or in the
related instructions.

Pages 11, 12 and 13
•

There are plans to move the country codes on pages 11 through 13 to a central
reference point (Doc. 7475). When this becomes official, the country codes on
pages 11 through 13 will be deleted and the specific instructions for all entry
spaces which require country codes will refer filers to the Doc. 7475.