Constructive Attribution Rules for Foreign Trusts: Direct and Indirect Ownership, Reporting, PPLI, 953(d), Planning
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide trusts and estates counsel and advisers guidance on the application of constructive attribution rules to foreign trusts, critical planning considerations, and pitfalls to avoid. The panel will provide a detailed analysis of constructive attribution rules for foreign trusts, pre-immigration trusts and domestication, beneficiary classes, ensuring compliance, and navigating Forms 3520, 3520-A, and 5471 and FBAR FinCEN Form 114. The panel will also go through case studies, issues stemming from the Corporate Transparency Act (CTA), potential IRS arguments to consider, and other key issues.
Outline
- Understanding tax rules and reporting obligations of foreign trusts for U.S. estates and taxpayers
- Constructive attribution and ownership rules
- Pre-immigration trusts and Section 679 rules
- Issues stemming from the CTA
- Compliance forms: Forms 3520, 2520-A, and 5471; FBAR FinCEN Form 114
- Best practices for trusts and estates counsel
Benefits
The panel will review these and other key issues:
- Navigating constructive attribution rules for foreign trusts
- Avoiding pitfalls of complex tax rules and reporting obligations
- Key issues stemming from the CTA
- Section 679 rules on pre-immigration trusts
- Best practices for counsel in overcoming challenges of foreign trusts
Faculty
Scott J. Bakal
Shareholder
Greenberg Traurig
Mr. Bakal develops tax-planning strategies for closely held family businesses, partnerships, and publicly held... | Read More
Mr. Bakal develops tax-planning strategies for closely held family businesses, partnerships, and publicly held corporations with significant domestic and international operations. He works closely with high- and ultra-high-net-worth individuals and entrepreneurial companies to develop elegant, tax-sensitive approaches to their complex business transactions, financial situations, estate planning matters, and real estate investments, as well as to pursue tax efficiency throughout their operations. Mr. Bakal advises foreign individuals and families seeking to benefit from advantageous tax structures by migrating their investments and assets to the United States. He designs integrated strategies to encompass the complex components of both international and domestic tax planning. Mr. Bakal continuously monitors the tax planning landscape for new, compliant approaches that can be implemented with the goal of minimizing his clients’ liabilities to the full extent allowable under the law.
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Lawrence M. Lipoff, CPA, TEP, CEBS
Director
CohnReznick
With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private... | Read More
With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private client services to enable high net worth individuals and families to maximize their new or generational wealth. He provides strategic advice to his clients and their closely-held businesses in the areas of income tax planning and compliance, estate planning and administration services, consultation regarding formation of family trusts and philanthropic structures. He is a frequent lecturer and author of articles published through professional forums on topics that include preparation of 1040/1041 & 706/709 returns, IRA/pension distribution, domestic and international asset protection, business succession, generation-skipping transfers, S corporation and fiduciary taxation including foreign trusts, alternative minimum tax, Chapter 14, family limited partnerships, international estate planning and administration, grantor charitable lead trusts, captive insurance companies, private placement life insurance and carried interest estate planning for private equity and hedge fund principals.
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Daniel Castro-Rodriguez
Associate
Greenberg Traurig
Mr. Castro-Rodriguez is an associate in the Tax Practice of Greenberg Traurig's Miami office. He focuses his... | Read More
Mr. Castro-Rodriguez is an associate in the Tax Practice of Greenberg Traurig's Miami office. He focuses his practice on tax law with an emphasis on international and cross-border tax issues. Mr.Castro-Rodriguez works with clients on income, gift and estate tax planning, expatriation and pre-immigration issues, inbound structures for non-U.S. clients investing or operating in the U.S., outbound structures for U.S. clients investing or operating abroad, and real estate structures for U.S. and non-U.S. investors.
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