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

In recent months, the IRS has revised a public announcement and issued a practice unit on IRS Form 3520-A reporting and ...

You already know about disclosing a foreign account on your tax return, reporting the income, and separately filing a Treasury Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts ...

Offshore entities and trusts require special tax reporting too. ... Form 3520 — Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts.

Compliance with respect to the timely and accurate filing of information returns reporting ownership of and transactions with Foreign Trusts (IRS FORMS 3520 and 3520-A) was identified by IRS as ...

On May 8, the IRS issued proposed regulations addressing matters related to foreign trusts and large gifts received from "nonresident aliens" (NRAs) by a U.S. person. See REG-124850-08 (proposed ...

See, e.g., PLR 201538008 (superannuation fund treated as foreign trust); PLR 200807003 (same); Rev. Rul. 2008-40, 2008-30 I.R.B. 166 (plan in foreign country maintained to provide retirement ...

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 type of investment. It may very well be time to ...

Form 3520-A is a close relative of Form 3520. A foreign trust with at least one U.S. owner must file Form 3520-A. Some exceptions apply, including trusts created to provide pension or retirement ...

Under that provision, a “responsible party” must file an IRS Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, if a “reportable event ...

A trust will be classified as foreign trust for U.S. income tax purposes unless (i) all substantial decisions are made for the trust by one or more U.S. persons (commonly known as the “control ...