The following response was made June 13, 1997, by IRS by email. Its accuracy CANNOT be relied upon, especially in view of IRS Notice 97-34 issued June 9 which discusses additional (or modifications to the) reporting requirements.

Gifts by a Non-Resident Alien must be reported. What form do I use?

IRS: Internal Revenue Code Section 6039F requires that a U.S. person report gifts made by a foreign person when the aggregate foreign gifts received during any tax year exceeds $10,000. This provision is effective for gifts received after August 20, 1996. Publication 553 stated that Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Foreign Gifts, will be revised for 1996 to incorporate the changes made in the foreign trust area and to report these foreign gifts. The revised Form 3520 has not yet been issued. According to Notice 96-60, 1996-49 IRB 7, the IRS will be issuing guidance regarding these reporting requirements. This notice suspends the requirement to file this information return until a date that is at least 60 days after the issuance of the forthcoming guidance. Any information return submitted within the time period set forth in such guidance will be considered filed on a timely basis. We regret that the guidance has not yet been issued, and apologize for any inconvenience to you.

You may wish to view the following documents:
http://www.irs.ustreas.gov/forms_pubs/index.html
http://www.irs.ustreas.gov/tax_regs/index.html

The IRS's new homepage on the World Wide Web went on-line in January. To access IRS information available on-demand, 24 hours a day, point your browser to our web site at http://www.irs.ustreas.gov. Even the most novice internet user will find our homepage easy to navigate. Written in a simple, user-friendly format, the web site offers a variety of information and services for both individual and business taxpayers.

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