UGC 3995 is a close pair of spiral galaxies whose eastern component hosts a Seyfert 2 nucleus. We present a detailed analysis of this system using long slit spectroscopy and narrow (\ha + \nii) as well as broad band (B, R) imaging and an archive WFPC2 image. The component galaxies reveal surprisingly small signs of interaction considering their spatial proximity and almost identical recession velocities, as the bright filament is probably an optical illusion due to the superposition of the bar of the Seyfert galaxy and of the spiral arms of the companion. The broad band morphology, a B--R color map, and a continuum-subtracted \ha + \nii image demonstrate that the western component UGC 3995B is in front of the Seyfert-hosting component UGC 3995A, partly obscuring its western side. The small radial velocity difference leaves the relative motion of the two galaxies largely unconstrained. The observed lack of major tidal deformations, along with some morphological peculiarities, suggests that the galaxies are proximate in space but may have recently approached each other on the plane of the sky. The geometry of the system and the radial velocity curve at P. A. = 106 suggest that the encounter may be retrograde or, alternatively, prograde before perigalacticon. The partial overlap of the two galaxies allows us to estimate the optical thickness of the disk of component B. We derive an extinction = 0.18 visual magnitudes in the infra-arms parts of the foreground galaxy disk, and >= 1-1.5 visual magnitudes in correspondence of the spiral arms. Comment: Accepted for publication in the Astronomical Journal (June 1999 issue)