Source: Don D. Nelson, Attorney, CPA
Date: December 31, 1969

If you own a property in Mexico through a Fideicomiso (Mexican Property Trust) you are required to file Forms 3520 and 3520A each year with the US Internal Revenue Service. The Form 3520A is due 3/15/10 for tax year 2009 but can be extended if the extension is filed by that date using Form 7004. The form 3520 is due by the extended due date of your personal tax return. Failure to file these forms by the due date or filing these forms late, can result in the IRS assessing extremely large penalties. An IRS source (who does not want to be identified) has stated orally that if a late filing excuse is attached the penalties may be abated. This unofficial rule may not continue into the future. Visit the best expat tax site at for more information:

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