Jay Krause and Theodore Ahlgren examine the implications of FATCA regulations, which will affect virtually all non-US trust companies and many family trusts and investment vehicles.

Apr 1, 2012 · Jay Krause and Theodore Ahlgren report on the proposed Foreign Account Tax Compliance Act regulations issued by the IRS. The Foreign Account Tax Compliance Act …

Jun 9, 2015 · This update discusses how these rules apply to trusts. The Operation of FATCA: An Overview Section 1471 of the Internal Revenue Code (the “Code”) provides for a 30% …

The trustee’s FATCA classification, however, should be “Trustee of a Trustee-Documented Trust” in order for the registration system to suggest the correct periodic certification. Note that a …

comprehensive guide on FATCA, but provides an overview of issues that must be considered by U.S. persons connected to foreign trusts. Administrators and beneficiaries of foreign trust …

A US tax resident beneficiary who receives a distribution from a non-US trust will be the subject of a FATCA report. That beneficiary has a US reporting obligation and may owe US income tax. …

Dec 26, 2024 · As the Trust is not resident for FATCA purposes in any jurisdiction that has implemented FATCA, the Trust (or, more specifically, the trustees on behalf the Trust) has no …

This article chiefly addresses FATCA reporting pursuant to the regulations, although it notes a few instances where conflict between the regulations and the IGAs appears to exist. As stated, at …

handle FATCA due diligence and reporting. Financial institutions have now begun asking trustees of trustee-documented trusts to provide a FATCA certi cate for the trustee-documented trust: …

companies. A professional trust company is often engaged as trustee. Under FATCA, those trust companies have generally registered with the Internal Revenue Service (IRS) as reporting …