Fundamentals of Foreign Trust Administration
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Confidently handle your client's trust needs - get a thorough understanding of foreign trust administration.
Many U.S. taxpayers have or are considering establishing a foreign trust for privacy, asset protection or other purposes. In addition, many nonresident aliens establish foreign trusts before moving to the U.S. This live webinar will help you understand the different types of foreign trusts, how they are administered, the U.S. tax treatment of foreign trusts and their grantors and beneficiaries. It will also help you understand and comply with the FATCA rules and the new withholding tax applicable to foreign entities, including foreign trusts.
Speaker: Charles K. Kolstad
Course Content:
| Overview of Foreign Trust Issues |
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When Is a Trust a Foreign Trust |
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- Foreign Governing Law
- Change in Situs and Governing Law Provisions
- Liechtenstein Siftungs, Swiss Foundations; Panama Foundations; Nevis Privacy Trusts
- Foreign Trustees
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Types of Foreign Trusts |
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- Foreign Grantor Trusts
- Foreign Nongrantor Trusts
- Simple vs. Complex Trusts
- Absolute vs. Discretionary Trusts
- Privacy Trusts
- Asset Protection Trust
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Administration of Foreign Trusts |
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- Corporate Trustees
- Letters of Wishes
- Protectors
- U.S. Persons as Excluded Beneficiaries
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U.S. Tax Issues |
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- Classification of Foreign Entities as Trusts or Corporations
- Section 679
- U.S. Grantor
- Foreign Grantor and 5 Year Rule
- Form 3520 and 3520-A
- Accumulation Distributions
- Nonqualifying Loans From the Foreign Trust
- FATCA
- Professional Trustees and Participating FFI Status
- Other Trustees and NFFE Status
- Reporting by Foreign Trust
- Reporting by U.S. Beneficiary on Form 8938
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FinCEN Form 114 Reporting Requirements |
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