Mastering U.S. Tax Reporting of Foreign Retirement Account Ownership and Distributions
Case Study on Calculating Current Tax, Identifying Recognition Traps From Phantom Income, Detailing Informational Reporting
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax advisers with a comprehensive guide to understanding the reporting requirements of U.S. taxpayers with beneficial interests in foreign/non-U.S. retirement accounts, including pensions, annuities and social security equivalents. The panel will discuss how to identify, classify and calculate potential US tax exposures and reporting obligations arising from such foreign plans and detail the informational reporting requirements. The event will contain illustrations in the form of a case study showing reporting from hypothetical foreign-based pensions and social security-type accounts.
- Classifications of foreign pensions, annuities and social security
- Differentiation between most foreign plans and U.S. “qualified plans”
- Income calculations—distributions and ownership
- Informational reporting
- Case study and illustrations (Canada, UK, Australia social security)
The panel will discuss these and other critical topics:
- What are the reporting requirements for taxpayers owning foreign retirement accounts?
- What are the tax consequences for U.S. citizens when employers make contributions to foreign retirement accounts?
- What is the tax impact of distributions from foreign retirement accounts for non-U.S. citizens who reside in the U.S.?
Roy A. Berg, JD, LLM (US TAX)
Director, US Tax Law; Barrister and Solicitor
Moodys Gartner Tax Law
Mr. Berg has more than 23 years of experience in IRS tax controversy, cross-border tax matters, estate planning, and... | Read More
Mr. Berg has more than 23 years of experience in IRS tax controversy, cross-border tax matters, estate planning, and finance. Before becoming the Director of the U.S. tax law group at Moodys Gartner Tax Law, he had experience in public accounting, the private practice of law, and as general counsel.Close
Marsha Laine Dungog, JD, LLM (US TAX)
Director, US Tax Law
Moodys Gartner Tax Law
Ms. Dungog has over 18 years of experience providing international tax consulting services to clients seeking to infuse... | Read More
Ms. Dungog has over 18 years of experience providing international tax consulting services to clients seeking to infuse tax sensibility in cross-border acquisitions, financing and expansion for multinational businesses, private equity funds, entrepreneurs and high net worth individuals involving real estate investments, manufacturing and distribution deals, film production and licensing, succession planning and philanthropic ventures. Ms. Dungog was a law clerk to the Hon. Senior Judge Lawrence A. Wright of the United States Tax Court and judicial law clerk to the Hon. Judge Dennis J. Montali of the United States Bankruptcy Court for the Northern District of California. She was also a fellow at the Committee on State Taxation (COST).Close
W. Aaron Hawthorne
Mr. Hawthorne has over 19 years of experience advising families on tax and related matters. His primary areas of... | Read More
Mr. Hawthorne has over 19 years of experience advising families on tax and related matters. His primary areas of expertise include advising domestic and multi-national families on wealth planning, and cross-border compliance and planning. He advises successful individuals and families on complex financial issues to protect and grow their wealth. He works closely with families to identify their goals and their guidelines with particular assets and investments consistent with the family dynamics. With these goals, he assists the family in developing tax-efficient plans to meet their unique needs. In addition, he focuses on planning and compliance for non-U.S. individuals from pre-immigration through preparing for expatriation.Close