FATCA, Foreign Trusts and Estate Planning: Navigating Complex Reporting and Withholding Requirements
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE course will provide estate planning counsel with guidance on complying with the reporting and withholding provisions of the Foreign Account Tax Compliance Act (FATCA). The panel will review the FATCA provisions applicable to foreign trusts, explain the classification of foreign trusts as either "foreign financial institutions" or "non-financial foreign institutions" subject to FATCA, and discuss best practices for compliance to avoid substantial taxes.
- Overview of FATCA provisions and rules affecting foreign trusts
- FATCA compliance and reporting obligations
- Penalties for noncompliance
The panel will review these and other key issues:
- What entities are considered FFIs and what entities are considered NFFEs? And what difference does it make?
- Which foreign trusts and other assets are subject to FATCA’s reporting requirements?
- What are the potential alternatives to foreign trusts becoming FATCA compliant?
- When will FFIs be subject to the 30% witholding tax liability and under what circumstances will they be entitled to a refund of withheld taxes?
Sahel A. Assar
Chadbourne & Parke
Ms. Assar is experienced in advising ultra-high net worth individuals and families with respect to international... | Read More
Ms. Assar is experienced in advising ultra-high net worth individuals and families with respect to international cross-border tax planning, trusts and estates, and compliance with U.S. tax reporting. She also has experience advising foreign financial institutions, fiduciaries and family offices in the private wealth sector with U.S. tax reporting and compliance matters, such as assistance with FATCA.Close
Mr. Vergara works with U.S. and foreign individual clients on domestic and international investment and succession... | Read More
Mr. Vergara works with U.S. and foreign individual clients on domestic and international investment and succession planning matters. He works frequently with U.S. beneficiaries of foreign trusts and foundations, U.S. inbound and outbound investments, and fiduciaries managing foreign structures for the benefit of U.S. parties.Close