26 C.F.R. § 404.6048-1 Annual returns for foreign trusts with a United States beneficiary.
Title 26 - Internal Revenue
(a) Return required—(1) In general. Each taxpayer subject to tax under section 679 with respect to a foreign trust having one or more United States beneficiaries must file Form 3520–A, Annual Return of Foreign Trust with U.S. Beneficiaries, together with any additional schedules or other information required by the form or the instructions to the form. Form 3520–A must be filed even if the taxpayer is treated as the owner of a foreign trust under both section 679 and some other provision of subpart E of part I of subchapter J. (2) Joint returns. If the taxpayer's spouse is also subject to tax under section 679 with respect to the same foreign trust for the same taxable year, and if both taxpayer and spouse file a joint return of income tax for that year, a single Form 3520–A may be filed jointly with respect to such trust for the year. (b) Period covered by return. The period covered by the return required by this section is the taxable year of the taxpayer required to file the return, regardless of the period used by the trust for accounting or any other purpose. (c) Time for filing—(1) In general. The return required by this section must be filed no later than the 15th day of the fourth month following the end of the taxable period covered by the return. (2) Transitional rule. In the case of a return required by this section for a taxable period ending on or before June 30, 1977, the return must be filed no later than— (i) October 15, 1977, in the case of a taxpayer treated as an owner with respect to the trust under both section 679 and a provision of sections 672 through 678, or (ii) December 31, 1977, in all other cases. (3) Extensions of time for filing. For rules relating to extensions of time for filing, see section 6081 and the regulations thereunder. (d) Place for filing. The return required by this section must be filed with the Director, Internal Revenue Service Center, 11601 Roosevelt Boulevard, Philadelphia, PA 19155. (e) Effective date. This section is effective for taxable periods ending on or after December 31, 1976. (Sec. 6048(c), Internal Revenue Code of 1954, 90 Stat. 1616 (26 U.S.C. 6048(c))) [T.D. 7502, 42 FR 41856, Aug. 19, 1977]
Title 26: Internal Revenue
PART 404—TEMPORARY REGULATIONS ON PROCEDURE AND ADMINISTRATION UNDER THE TAX REFORM ACT OF 1976
§ 404.6048-1 Annual returns for foreign trusts with a United States beneficiary.
