IRS is exempting from foreign trust reporting requirements certain tax-favored foreign trusts that are established and operated to provide pension or retirement benefits. Participants in foreign ...

Foreign trust reporting obligations can apply to a domestic trust established even within the US and the recent regulations ...

The IRS has clearly identified legitimate reasons why "U.S. Persons" would establish or maintain ownership in a foreign trust. However, a foreign trust creates complex IRS reporting requirements ...

Taxpayers that are out of compliance with the timely and accurate filing of information returns reporting ownership of and transactions with Foreign Trusts face “apparent” IRS audit risk.

The Foreign Account Tax Compliance Act adds another filing requirement for foreign accounts and assets. You already know about disclosing a foreign account on your tax return, reporting the income ...

This article summarizes the treatment of ownership of foreign trust assets; discusses the guidance for reporting a transfer and a donee's receipt of a distribution from a foreign trust, as well as ...

To qualify for such exemption, a foreign retirement trust must meet the following requirements: The trust must generally be exempt from income tax under the laws of the trust’s jurisdiction.

Are you concerned about the high IRS tax rates on a foreign trust? It is important to understand the tax and reporting consequences on this specific ...

The establishment of a foreign trust can create a multitude of IRS reporting obligations: to the foreign trust, to certain transferors, and even to the beneficiaries.

The IRS has looked to these same definitions in support of its conclusions that certain foreign retirement accounts are foreign trusts for United States reporting purposes.

Notwithstanding the Proposed Regulations, the reporting requirements for a U.S. person’s involvement with a foreign trust or receipt of foreign gifts or bequests are cumbersome and complex.

While trading has gone global, the IRS is becoming xenophobic over reporting foreign income and accounts. If you have unreported foreign accounts of more than $10,000 and unreported income, you ...