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Just inherited the equivalent in foreign currency of ~ US$115K so I need to file Form 3520 and would like to wire transfer most of it from my foreign account into my US bank account. Can I file F 3520 right away? Do I have to wait until 2019 to do it?

money left invested overseas will earn “gains” which usually do not make up for exchange rate increase. Would I need later to declare those “gains” here, even if equivalent dollar amount decreases?
Foreign Income Inheritance
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Tax Professional Answers

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Charles Woodson, EA
If you are required to file a US return (citizen or resident alien) you must report income from all sources. Exchange rate differences have no impact on determining gain since the transaction itself will always be in the foreign currency where your funds reside. Also, you will be required to file the FBAR report if your account is $10,000 or more any day during the tax year. Finally, you may also be subject to file Form 8938 "Statement of Specified Foreign Financial Assets with your tax return.
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