Serbinski Accounting Firms

It looks like you're right that 3520 is filed separately from the 1040. The 3520-A (if filed by the individual) is still attached to the 3520 then, which would still be due on the date your 1040 is due, however, as indicated in the instructions for 3520: "In general, Form 3520 is due on the dat...

It seems to me that the March 15 due date applies to the foreign trust, not the taxpayer. I think its so that the IRS gets the 3520A's ahead of time and can then match them up with the 3520's when they come in. Notice the question #22 says what to do in case you answer "no":

If “No,â€￾ to the best of your ability, complete and attach a substitute Form 3520-A for the foreign trust.

I would assume that "attach" means attach to this form (3520) which is filed along with your 1040 which is due on April 15.

Please correct me if I'm wrong, but for the balance sheet on form 3520A, there is always going to be a discrepancy between the total assets, total liabilities, and net worth if one only completes line 17 and 18 for the "net worth" section -- even neglecting currency exchange -- unless all ...