U.S. Taxation and Information Reporting for Foreign Trusts and their U.S. Owners and U.S. Beneficiaries
United States (U.S.) owners and beneficiaries of foreign trusts (i.e., non-U.S. trusts) have complex U.S. reporting requirements, which are different from the reporting requirements imposed on U.S. domestic trusts. The U.S. taxation of the income and distributions from a foreign trust depends on the type of foreign trust and the status of the trust’s beneficiaries at the time of distribution. This publication will provide an overview of the questions that must be addressed by foreign trustees, U.S. owners of foreign trusts, and U.S. beneficiaries of foreign trusts under current U.S. law.
To read more, download the attached PDF.