Structuring U.S. Governed Law Trusts Classified as Foreign Trusts for U.S. Tax Purposes

Jennifer Wioncek participated in a Strafford Webinar titled Structuring U.S. Governed Law Trusts Classified as Foreign Trusts for U.S. Tax Purposes. Panelists took a deep dive into the planning opportunities and reporting requirements for U.S.-based trusts that must file as non-domestic trusts for income tax purposes. Panelists also discussed what constitutes "substantial decisions by non-U.S. persons" for trusts, structuring considerations to maximize income tax savings by utilizing a U.S.-based foreign trust, and detail how FATCA and other foreign tax reporting requirements on non-domestic entities impact trust drafting and operation.