Thank you for including this!
Can you clarify if section 47 on page 21 refers to organizations or individuals only?
47 Notice of Large Gifts Received from Foreign Persons. For taxable yearsbeginning in 2023, § 6039F authorizes the Secretary of the Treasury or her delegate torequire recipients of gifts from certain foreign persons to report these gifts if theaggregate value of gifts received in the taxable year exceeds $18,567.
If the value of the aggregate foreign gifts received by a United States person (other than an organization described in section 501(c) and exempt from tax under section 501(a)) during any taxable year exceeds $10,000, such United States person shall furnish (at such time and in such manner as the Secretary shall prescribe) such information as the Secretary may prescribe regarding each foreign gift received during such year.
For purposes of this section, the term "foreign gift" means any amount received from a person other than a United States person which the recipient treats as a gift or bequest. Such term shall not include any qualified transfer (within the meaning of section 2503(e)(2)) or any distribution properly disclosed in a return under section 6048(c).