FATCA: Who Must Report by March 31?
The deadline for a Participating Foreign Financial Institution (PFFI), including a Reporting FI under a Model 2 IGA to complete its FATCA...
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Elizabeth A. McMorrow
- Oct 24, 2019
Foreign Trusts: South Dakota Regulators’ Tips
The South Dakota Trust Association hosted its third annual Fall Forum on October 17 & October 18, 2019. We were fortunate to have Scott...
Elizabeth A. McMorrow
- Oct 10, 2019
Foreign Trusts: Head to Sioux Falls October 17 & 18
The South Dakota Trust Association is hosting its third annual Fall Forum on October 17 & October 18, 2019 at Sioux Falls Convention...
Elizabeth A. McMorrow
- Jun 12, 2018
FATCA: USFIs & Foreign Grantor / Non-Grantor Trusts' Mandatory IRS Certs
The first round of IRS compliance certifications begins this summer. The current deadline is likely October 2018: 90 days after the IRS...
Elizabeth A. McMorrow
- Apr 6, 2018
Foreign Grantor Trust IRS Form 3520 Filing Date Changes
For tax years beginning after 2016, the due date for a U.S. person to file IRS Form 3520 has changed to the fifteenth day of the fourth...
Elizabeth A. McMorrow
- Dec 28, 2017
What Is a Foreign Grantor Trust?
A trust is established in a U.S. jurisdiction such as South Dakota and a South Dakota trustee is appointed. How could this trust be...
Elizabeth A. McMorrow
- Dec 26, 2017
New Filing Requirement for LLCs & U.S. Foreign Grantor Trusts
As of January 1, 2017, U.S. Limited Liability Companies (“LLCs”) that are wholly owned, directly or indirectly, by one foreign person,...
Elizabeth A. McMorrow
- Sep 8, 2017
FATCA: Foreign Grantor Trust Classification Strategy
In the FATCA world, some trusts are Foreign Financial Institutions (FFIs) and some are Non-Financial Foreign Entities (NFFEs). For those...
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