Country-by-Country Guide

How Form 3520 and Form 3520-A apply to foreign pensions, retirement accounts, trusts, and gifts, organized by country. Select a country to see what triggers a filing obligation and what to report.

• 🇨🇦Canada North AmericaModerateRRSPs, RRIFs, registered pension plans, and other Canadian retirement plans within Article XVIII(7) of the treaty need no Form 3520 or 3520-A under Rev. Proc. 2014-55. Trust-form TFSAs and FHSAs have no exemption; whether they are U.S. trusts is not settled, so the cautious course is full reporting. RESPs and RDSPs may qualify under Rev. Proc. 2020-17 §5.04, with open questions.
• 🇲🇽Mexico North AmericaCase-by-caseTitle-holding real-estate fideicomisos are not trusts for U.S. purposes under Rev. Rul. 2013-14; business and investment fideicomisos and AFORE accounts require trust analysis. The U.S.–Mexico treaty exists but lacks pension deferral. Gifts and inheritances from Mexico are among the most common Part IV triggers.
• 🇧🇷Brazil South AmericaModerateINSS is social insurance, not a trust. Closed pension funds (Petros, Previ, Valia) are likely foreign trusts, and so is a PGBL managed by a fund company with segregated assets; a VGBL's trust status is debated. There is no U.S.–Brazil treaty, but that does not by itself disqualify closed pension funds from Rev. Proc. 2020-17; eligibility instead depends on whether the fund independently satisfies the revenue procedure's conditions.
• 🇨🇴Colombia South AmericaHigh relevanceColombian AFP pension funds are likely foreign trusts. Cesantías are severance funds paid out on termination of employment, so they are unlikely to be ‘retirement trusts’ under Rev. Proc. 2020-17 even though their housing and education withdrawals are of a kind the revenue procedure permits; the lack of a U.S.–Colombia income tax treaty does not by itself disqualify either plan. Gifts and inheritances from Colombian family can trigger Part IV reporting.
• 🇬🇧United Kingdom EuropeHigh relevanceA UK workplace pension held in trust reads as a §402(b) employees' trust. Once your contributions exceed your employer's, as they do from the start at the minimum rates, the part you fund needs Part II and Form 3520-A each year; the treaty defers tax on it but not the reporting. Personal pensions and SIPPs held in trust need full reporting; public service schemes need none.
• 🇨🇭Switzerland EuropeHigh relevancePillar 2 (BVG/LPP) and Pillar 3a are generally treated as foreign trusts. The U.S.–Switzerland treaty gives a U.S. citizen no relief on Swiss pension payments. Rev. Proc. 2020-17 may exempt large Pillar 2 Pensionskassen; Pillar 3a is a strong candidate for exemption but has one open question regarding permanent-departure withdrawals.
• 🇩🇪Germany EuropeModerateThe statutory pension (GRV) is social insurance, likely not a trust. Pensionskassen and Pensionsfonds are most likely foreign trusts, and Riester and Rürup contracts likely are if they hold segregated assets. The U.S.–Germany treaty's Article 18A gives U.S. citizens working in Germany relief on employment-linked pension contributions and accruals but does not affect Form 3520 reporting, and Rev. Proc. 2020-17 may apply to Pensionskassen that meet all §5.03 conditions.
• 🇫🇷France EuropeCase-by-caseThe statutory pension is social insurance, not a trust. Assurance vie and PER plans have debated trust status. The treaty allocates pension distributions to the source State but gives U.S. citizens no relief beyond the foreign tax credit. Large inheritances from France are common Part IV triggers.
• 🇮🇪Ireland EuropeHigh relevanceIrish occupational pensions, PRSAs, and ARFs are foreign trusts. The treaty gives U.S. citizens no relief on Irish private pensions. Rev. Proc. 2020-17 may apply to employer schemes that meet all §5.03 conditions; individual PRSAs and ARFs need §5.03(1)–(5) analysis.
• 🇳🇱Netherlands EuropeHigh relevanceDutch pension funds (ABP, PFZW) are among the world's largest and are likely foreign trusts. The U.S.–Netherlands treaty gives U.S. citizens no pension deferral. Rev. Proc. 2020-17 may apply to industry funds that meet all §5.03 conditions; individual lijfrente requires §5.03(1)–(5) analysis.
• 🇮🇹Italy EuropeModerateItalian supplementary pension funds (fondi pensione) are likely foreign trusts. TFR (severance) depends on whether assets are segregated. INPS is social insurance. The U.S.–Italy treaty exists; Rev. Proc. 2020-17 may apply to large negotiated funds; individual PIPs require §5.03(1)–(5) analysis. Large inheritances from Italy are a common Part IV trigger.
• 🇵🇱Poland EuropeModeratePolish PPK (auto-enrolled workplace pension) and PPE employer pension plans are likely foreign trusts. ZUS is social insurance. The U.S.–Poland treaty exists; Rev. Proc. 2020-17 may apply to large PPK/PPE funds; individual IKE/IKZE require §5.03(1)–(5) analysis. Gifts from Polish family can trigger Part IV.
• 🇯🇪Jersey Crown DependenciesHigh relevanceJersey has well-developed workplace pension schemes and is one of the largest trust jurisdictions in the world under the Trusts (Jersey) Law 1984. Jersey is a Crown Dependency and is not covered by the U.S.–UK income tax treaty, but that does not by itself disqualify workplace pension schemes from Rev. Proc. 2020-17, which does not require a treaty; the revenue procedure does not apply to express trusts because they are not retirement vehicles.
• 🇬🇬Guernsey Crown DependenciesHigh relevanceGuernsey has workplace pension schemes and is a well-established trust jurisdiction under the Trusts (Guernsey) Law 2007. Guernsey is a Crown Dependency and is not covered by the U.S.–UK income tax treaty, but that does not by itself disqualify workplace pension schemes from Rev. Proc. 2020-17, which does not require a treaty; the revenue procedure does not apply to express trusts because they are not retirement vehicles.
• 🇮🇲Isle of Man Crown DependenciesHigh relevanceThe Isle of Man has occupational pension schemes and is a Crown Dependency with trust legislation under the Trustee Act 1961 as amended. The Isle of Man is not covered by the U.S.–UK income tax treaty, but that does not by itself disqualify occupational pension schemes from Rev. Proc. 2020-17, which does not require a treaty; the revenue procedure does not apply to express trusts because they are not retirement vehicles.
• 🇮🇱Israel Middle EastHigh relevanceIsraeli pension funds and keren hishtalmut are foreign trusts; bituach menahalim is an insurance contract whose trust status is unsettled. The U.S.–Israel treaty exists but lacks pension deferral. Rev. Proc. 2020-17 may apply to employer pension funds; it is unlikely to apply to keren hishtalmut, which is arguably not a retirement trust (classification uncertain).
• 🇦🇪United Arab Emirates Middle EastModerateUAE end-of-service gratuity may not be a trust, but DEWS, the DIFC's workplace savings scheme, is a foreign trust, and similar schemes are being adopted in ADGM and other free zones. DIFC/ADGM express trusts are clearly foreign trusts and are not retirement vehicles, so Rev. Proc. 2020-17 does not apply to them. There is no U.S.–UAE income tax treaty, but that does not by itself disqualify DEWS from Rev. Proc. 2020-17; eligibility instead depends on whether the plan independently satisfies the revenue procedure's conditions.
• 🇮🇳India South AsiaHigh relevanceOn our reading, India's Employees' Provident Fund and National Pension System are foreign trusts. Read as a §402(b) employees' trust, the EPF needs no Part I, Part II, or Form 3520-A unless your voluntary contributions exceed your employer's and compulsory ones together. An EPS pension is likely taxable only in India. A PPF account is a government savings account, not a trust, on our reading.
• 🇵🇰Pakistan South AsiaModeratePakistani employer provident funds and voluntary pension schemes may be foreign trusts. EOBI is social insurance. A U.S.–Pakistan income tax treaty (1957, in force since 1959) is in force, but its pension article exempts only certain pension payments at source, excludes pensions from Pakistan-recognized superannuation funds, and contains no provision deferring U.S. tax on plan earnings. Whether each plan qualifies for the Rev. Proc. 2020-17 reporting exemption depends on meeting all Section 5.03 conditions. Gifts and inheritances from Pakistani family are a common Part IV trigger.
• 🇦🇺Australia Asia-PacificHigh relevanceAustralian superannuation funds are foreign trusts. Read as §402(b) employees' trusts, the employer-paid part needs no Part I, Part II, or Form 3520-A, and payouts reported as compensation stay off Part III. Rev. Proc. 2020-17 is unlikely to cover super, since family and friends can contribute; the proposed regulations may. SMSFs and family trusts usually need full reporting.
• 🇳🇿New Zealand Asia-PacificHigh relevanceKiwiSaver and New Zealand's other superannuation schemes are foreign trusts. KiwiSaver's employer-paid part reads as a §402(b) employees' trust, but ESCT comes off the employer's contribution, so a member paying the same rate usually owns the part their own money funds: Part II and Form 3520-A each year. Rev. Proc. 2020-17 is unlikely to cover KiwiSaver; the proposed regulations may.
• 🇸🇬Singapore Asia-PacificHigh relevanceCPF and SRS accounts are likely foreign trusts. Whether CPF qualifies for the Rev. Proc. 2020-17 exemption is uncertain: its housing and education withdrawals are expressly permitted by the revenue procedure, but its permanent-departure withdrawal and non-wage cash top-ups are not clearly covered. SRS is an individual account that must be tested against the revenue procedure's conditions on its own terms. Without the exemption, CPF is reported as an employer plan’s trust, and SRS gets full reporting.
• 🇭🇰Hong Kong Asia-PacificHigh relevanceMPF schemes and trust-based ORSO schemes are foreign trusts. MPF's permanent-departure withdrawal option is not among the early-withdrawal reasons the revenue procedure permits (hardship, education, home purchase), so MPF may not meet Rev. Proc. 2020-17's withdrawal-restriction condition; ORSO schemes that pay out vested benefits on leaving employment face the same issue. Without the exemption, they are reported as employer plans’ trusts, and PFIC rules may apply to the funds MPF holds.
• 🇯🇵Japan Asia-PacificModerateCorporate DB/DC plans and iDeCo are likely foreign trusts. The national pension is social insurance, not a trust. The U.S.–Japan treaty gives a U.S. citizen no relief on Japanese pension payments and has no accrual-deferral rule. Rev. Proc. 2020-17 may apply to corporate DB/DC plans that meet all §5.03 conditions.
• 🇰🇷South Korea Asia-PacificModerateNational Pension is social insurance, not a trust. Corporate DB/DC plans and IRPs are likely foreign trusts. The U.S.–Korea treaty exists but lacks pension deferral. Rev. Proc. 2020-17 may apply to employer DB/DC plans that meet all §5.03 conditions.
• 🇹🇼Taiwan Asia-PacificCase-by-caseTaiwan's Labor Pension Fund has debated trust status. The lack of a U.S.–Taiwan tax treaty does not by itself disqualify it from Rev. Proc. 2020-17; eligibility instead turns on the fund's substantive conditions and requires plan-specific analysis. Labor Insurance is social insurance, not a trust.
• 🇵🇭Philippines Asia-PacificModerateSSS and GSIS are social insurance, not trusts. Private employer retirement plans under RA 4917 may be foreign trusts. The U.S.–Philippines treaty exists but lacks modern pension deferral. Gifts and inheritances from Filipino family are among the most common Part IV triggers.
• 🇨🇳China Asia-PacificModerateEnterprise annuities are likely foreign trusts; the Housing Provident Fund has a stronger trust argument than the basic pension but works mainly as housing savings. Social insurance (yanglao baoxian) is likely not a trust. The U.S.–China treaty gives a U.S. citizen no relief on Chinese pension payments and does not affect 3520/3520-A reporting. Gifts from Chinese family are a very common Part IV trigger.
• 🇻🇳Vietnam Asia-PacificCase-by-caseVietnamese social insurance is likely not a foreign trust, so §6048 reporting does not apply to it regardless of Rev. Proc. 2020-17. Gifts and inheritances from Vietnamese family are a very common Part IV trigger given the large Vietnamese-American community.
• 🇹🇭Thailand Asia-PacificModerateThai provident funds are likely foreign trusts. The Social Security Fund is social insurance. The U.S.–Thailand treaty exists; Rev. Proc. 2020-17 may apply to large provident funds; individual RMFs/SSFs require §5.03(1)–(5) analysis. Thailand is a popular retirement destination for U.S. persons; retirees who worked there may keep vested provident fund balances, and gifts from Thai family can trigger Part IV.
• 🇲🇾Malaysia Asia-PacificHigh relevanceMalaysia's Employees Provident Fund (EPF/KWSP) is a mandatory savings scheme likely treated as a foreign trust. Its Akaun Sejahtera housing, education, and medical withdrawals are largely of a kind Rev. Proc. 2020-17 permits, but the Akaun Fleksibel (which EPF describes as accessible at any time for emergencies and immediate needs) and the permanent-departure withdrawal are not, so qualification is uncertain; the lack of a U.S.–Malaysia income tax treaty does not by itself disqualify it. Private Retirement Schemes (PRS) are also likely foreign trusts.
• 🇨🇰Cook Islands Pacific IslandsHigh relevanceThe Cook Islands is the most commonly chosen jurisdiction for U.S. persons' asset protection trusts under the International Trusts Act 1984; a Cook Islands trust is a foreign trust, and a U.S. settlor is nearly always its owner. The Cook Islands National Superannuation Fund (CINSF) is a foreign trust only if it operates as a trust. The lack of a U.S.–Cook Islands income tax treaty does not by itself disqualify the CINSF from Rev. Proc. 2020-17, though the revenue procedure is not relevant to Cook Islands asset protection trusts, which are not retirement vehicles.
• 🇿🇦South Africa AfricaHigh relevancePension funds, provident funds, RAs, and preservation funds are foreign trusts. The U.S.–South Africa treaty (signed 1997, effective from 1 January 1998) allocates taxing rights on pension distributions but contains no provision deferring U.S. tax on fund earnings. Whether each plan qualifies for the Rev. Proc. 2020-17 reporting exemption depends on meeting all Section 5.03 conditions; full 3520/3520-A reporting is required unless they are met.
• 🇳🇬Nigeria AfricaHigh relevanceNigerian pension funds under the Contributory Pension Scheme are likely foreign trusts. The lack of a U.S.–Nigeria income tax treaty does not by itself disqualify them from Rev. Proc. 2020-17; eligibility instead requires plan-specific analysis of the revenue procedure's substantive conditions. Gifts and inheritances from Nigerian family are a common Part IV trigger.
• 🇰🇾Cayman Islands CaribbeanHigh relevanceThe Cayman Islands has mandatory employer pensions under the National Pensions Act and is a leading jurisdiction for express trusts and fund domicile. The lack of a U.S.–Cayman Islands income tax treaty does not by itself disqualify pension plans from Rev. Proc. 2020-17; eligibility instead requires plan-specific analysis of the revenue procedure's substantive conditions. STAR trusts and other Cayman trusts create Form 3520/3520-A obligations for their U.S. owners and beneficiaries; a unit trust fund does only if it is classified as a trust for U.S. purposes, and many fund entities are corporations or partnerships.
• 🇻🇬British Virgin Islands CaribbeanHigh relevanceThe BVI is widely used for express trusts, particularly VISTA trusts, and BVI trusts are foreign trusts. Its Social Security Board, which provides employee benefits, is a statutory social insurance program and generally not a trust. The lack of a U.S.–BVI income tax treaty does not by itself disqualify a private pension plan from Rev. Proc. 2020-17, and the revenue procedure does not apply to express trusts because they are not retirement vehicles.
• 🇧🇸Bahamas CaribbeanHigh relevanceThe Bahamas offers purpose trusts, executive entities, and SMART fund structures under a no-tax regime, and Bahamian trusts are foreign trusts. Its National Insurance Board, which provides employee pensions, is a statutory social insurance program and generally not a trust. The lack of a U.S.–Bahamas income tax treaty does not by itself disqualify a private pension plan from Rev. Proc. 2020-17, and the revenue procedure does not apply to purpose trusts or executive entities because they are not retirement vehicles.
• 🇧🇲Bermuda CaribbeanHigh relevanceBermuda mandates employer pensions under the National Pension Scheme (Occupational Pensions) Act 1998 and has a long history of express trust law with reserved powers trusts, purpose trusts, and insurance-linked structures. The lack of a U.S.–Bermuda income tax treaty does not by itself disqualify mandatory occupational pensions from Rev. Proc. 2020-17, and the revenue procedure does not apply to express trusts because they are not retirement vehicles.
• 🇰🇳St. Kitts & Nevis CaribbeanHigh relevanceNevis is a leading asset protection jurisdiction, and a Nevis international exempt trust is a foreign trust that creates significant Form 3520 exposure; a Nevis LLC the trust owns falls under Form 5471 or 8865 if it is a corporation or partnership. The Social Security Fund, which provides employee pensions, is a statutory social insurance program and generally not a trust. The lack of a U.S.–St. Kitts & Nevis income tax treaty does not by itself disqualify a private pension plan from Rev. Proc. 2020-17, though the revenue procedure is not relevant to Nevis international exempt trusts, which are not retirement vehicles.

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