Expat Community > France

lostinspace
Joined 2001
Posts: 132

US taxes: is my bank a foreign trust?

22 years ago

This is my first year i'm doing my taxes on my own as an expat. I think I have everything except for this darn form 3520. This form seems to embody all of the IRS legal jargon that we could ever fear.

I simply would like to know if I have to file this form. I have a french bank account where i've made a little interest on, so i've reported this interest on my schedule b - interest and ordinary dividends. But now I have to decide if I've received a distribution from a foreign trust. I'm still not sure what qualifies as a distribution. A foreign trust seems to be everything that isn't a US trust. errrrr!

But I don't have to file for 3520 if I've reported the interest as compensation. I don't know if this means that I need to include the interest in my wages or leave it in the schedule b.

I just get the feeling from all of the US tax forms that all US expats are rich, money-laundering, tax-sheltering businessmen. What about us normal people who simply decide to live in another country?

thanks for any help and for listening to me moan.

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

Living in France Guide

Guide to Living in France covering expat life, local culture, finding a home, diversity and more.

France Forum
Join our France forum to meet other expats and talk about living in France.

Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in France.

Best Places to Live in France

If you're thinking about living in France, here are the 15 Best Places to Live in France in 2023.

Healthcare in France

Expats often ask if health insurance is free in France or if you need health insurance to go to France. Here is basic information about the French healthcare system.

Cost of Living in France

Expats offer insight into the cost of living in France.

Moving to France Guide

Expats all over the world dream of someday making France their next destination. As with other countries, there is a lot of planning involved, and a lot of decisions to be made.

Real Estate in France

Real estate listings in popular cities and towns in France.

Pros & Cons of Living in France

Take off your rose-colored glasses and learn what expats have to say about the biggest challenges and the greatest rewards of living in France.

Retiring in France

Advice for people retiring in France.

10 Tips for Living in France

If you've recently arrived in France, here are 10 tips for digital nomads living in France.

Additional Information:

Visit our France Index for a Full List

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

Contribute
Help others in France by answering questions about the challenges and adventures of living in France.

Login

Or, Send Login Link

Expat Community > France

US taxes: is my bank a foreign trust?

Login