U.S. Reporting Checklist for Foreign Trusts


Trusts classified as foreign for U.S. tax purposes, whether established under the law of a U.S. state or of an offshore jurisdiction, must review whether they have any U.S. tax or information reporting filings to make in 2019 with regard to income earned and distributions made in 2018. This article provides trust officers and family advisers with a summary checklist, including other filing and reporting requirements for foreign trusts. And if a trustee will not be able to meet the reporting due date, a request for extension should be filed prior to the due date.

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