Form 3520-A Illinois 2023-2025

Form 3520-A Illinois: What You Should Know

The owner must verify on the form whether a U.S. citizen or U.S. alien (within 6 months after the filing date of the form or  upon request) has acquired or disposed of an interest in the trust. Nov 22, 2025 — Taxpayers who failed to file Form 3520-A by the due date (April 19, 2019) must pay an annual fee of 100 to the IRS. Failure to meet the requirement to file the  Form 3520-A by the due date results in criminal penalties of 5,000 per violation. The penalty does not apply if the return is filed and approved  under penalty of perjury. Sep 30, 2025 — Section 6511 of the Internal Revenue Code imposes civil tax penalties of 50 per violation. Sep 30, 2025 — The penalty for noncompliance with Form 3520-A is a fine of 5,000 per violation for each year of noncompliance: for failure to file by April 19, 2025 (the due date), for failure to file by August 3, 2025 (after April 19 but before filing the due date),  for failure to file by October 31, 2025 (after April 19 but before filing the due date). Sep 30, 2025 — All reporting foreign trust and gift registrants must file Form 3726, Foreign Bank and Financial Institution Reports, under the new reporting requirements of Section 6103(a)(1) of the Internal Revenue Code. Sep 20, 2018—The statute of limitations for filing or reporting tax liability on penalties on a violation of section 6103(a)(1) of the Internal Revenue Code or section 6060 is extended by 1 year, to  June 30, 2021. The deadline for filing Form 3520, the annual information return on foreign trusts and gifts, is October 31, 2018. Sep 15, 2025 — The penalties for noncompliance with Form 3726, the new regulations for foreign bank and nonbank financial institutions, are increased to 10 billion. Sep 15, 2018—The penalties for filing an annual return on foreign trusts and gift registrants with no information required on foreign trust records are increased to 35 billion. The penalty will be increased to 40 billion for failure to provide information of a U.S. person with respect to a foreign trust, on any return or statement filed after October 31, 2018.

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